British Pound (GBP), Daily Review, August 3rd 2010

By IBTimes Staff Reporter | August 03 2010 6:17 AM

The Pound rose to the highest level in almost six months against the Dollar as a report showed U.K. manufacturing expanded for a 10th straight month in July, a sign the U.K. economy is recovering faster than some economists had forecast. As long the pair is trading above the resistance at 1.5660 on the daily chart the momentum is clearly bullish, the next support on the one hour chart is 1.5665. Overall, GBP/USD traded with a low of 1.5700 and with a high of 1.5907.

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GBP/USD - Last: 1.5876

Resistance

1.5910

Support

1.5720

1.5640

1.5520

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