The Pound remained unchanged versus the Dollar after a short range trading day due to lack of economic news. Overall, GBP/USD traded with a low of 1.5448 and a high of 1.5521. GBP/USD has corrected upwards after reaching oversold conditions according to the RSI indicator. GBP/USD main trend is still downwards, but a correction to 1.56 is possible. Today, Inflation Report Hearings will be held by the MPC. BBA Mortgage Approvals are expected slightly lower with 45.3K versus 45.9K prior.

GBP/USD - Last: 1.5485

Resistance

1.5535

1.5625

1.5700

Support

1.5450

1.5410

1.5350

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