The Pound finished unchanged versus the Dollar after not being able to sustain earlier gains. Trade Balance showed a smaller than expected deficit of 6.2B versus 7.3B forecast, but the gains were released after a larger than expected deficit in the U.S lowered risk appetite. Overall, GBP/USD traded with a low of 1.5535 and a high of 1.5449. As long as GBP/USD keeps trading above the 50 day moving average the momentum is bullish. Nationwide Consumer Confidence will be released overnight and is expected higher with 81.

GBP/USD - Last: 1.5375

Resistance

1.5450

1.5485

Support

1.5335

1.5310

1.5260

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