The Pound weakened slightly versus the Dollar as stocks continued to decline and no major economic data was released. RICS House Price Balance came out stronger with 32% versus 28% expected. Overall, GBP/USD traded with a low of 1.5534 and a high of 1.5660. GBP/USD is oversold according to the RSI indicator and a correction back up is possible, but the trend is still downwards. Today, Trade Balance is expected with -6.6B versus -6.8B prior.

GBP/USD - Last: 1.5570

Resistance

1.5665

1.5700

1.5745

Support

1.5530

1.5480

1.5450

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