The Pound was unable to stay above 1.6 and tumbled below 1.59 losing gains. The Services PMI came out 54.5 worse than 56.8 expected. If the pair will drop below the support at 1.5880 declines below 1.58 could be seen. Overall, GBP/USD traded with a low of 1.5875 and a high of 1.6068. Today, the Halifax House Price Index is expected at 0.9% vs. 1% prior and later the important Interest rate decision is expected unchanged at 0.5% and the Q.E program expected unchanged with 200B.

GBP/USD - Last: 1.5910

Resistance

1.5970

1.6025

1.6055

Support

1.5850

1.5800

1.5780

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