British Pound (GBP), Daily Review, August 25th 2010

By IBTimes Staff Reporter | August 25 2010 6:35 AM

The Pound fell against the Dollar after the London based Times reported that Bank of England policy maker Martin Weal said the U.K. faces a real risk of a second recession. The GBP/USD has broken the support level at 1.5480 and crossed down the 10 moving average on the daily graph, therefore a short position is preferred. Overall, GBP/USD traded with a low of 1.5372 and with a high of 1.5505. No economic data expected today.

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GBP/USD - Last: 1.5430

Resistance

1.5475

1.5620

1.5700

Support

1.5370

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