The British Pound reached a new 5 week high at 1.4809 against the Dollar after breaching the 1.4740 resistance level on speculations that the BOE will raise interest rates. The RICS House Price Balance came out 22% better than expected 16%. Breaking back below the 1.4740 level might change to the momentum to negative for the pair. Overall, GBP/USD traded with a low of 1.4522 and with a high of 1.4809. Today, the CPI is expected at 3.5% vs. 3.7% previously.

GBP/USD - Last: 1.4732

Resistance

1.4740

1.4800

Support

1.4600

1.4520

width=480