British Pound (GBP), Daily Review, July 29th 2010

29 July 2010 @ 05:24 am EDT

The Pound closed almost unchanged versus the Dollar after touching the highest rate in 5 months during the session due to bad economic data like the durable goods orders in US which fell more than expected. The main support of the GBP/USD on the one hour chart is 1.5430, if the price trades below this level the momentum will be bearish, the next resistance on the daily chart is 1.5675. Overall, GBP/USD traded with a low of 1.5544 and with a high of 1.5638. Today, Nationwide HPI is expected at -0.2% vs. 0.1% prior.

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