The Pound fell to its lowest level in over a week against the Dollar as the UK recorded its first budget deficit for January since monthly data began in 1993. CBI Industrial Order Expectations came out -36 vs. -35 forecast. The GPB/USD has broken the main support at 1.5525 and still trading under the 50 moving average therefore the trend is bearish. Overall, GBP/USD traded with a low of 1.5498 and with a high of 1.5687.Today, Retail Sales are expected to be released at -0.5% vs. 0.3% prior.

GBP/USD - Last: 1.5405

Resistance

1.5557

1.5741

1.5815

Support

1.5400

1.5345

1.5295

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