The Pound weakened versus the Dollar, falling below the 1.48 mark snapping a 2-day rally, despite the release of upbeat U.K. data on jobless claims and the unemployment rate. Jobless claims came out better than the forecast at -30.9K vs. -23.2K, showing a 4th straight month of improvement. The main resistance of GBP/USD on the daily chart is located at 1.4870, if the price trades above this level the momentum will continue to be bullish. Overall, GBP/USD traded with a low of 1.4725 and with a high of 1.4855. Today, Retail Sales are expected to weaken from 0.3% to 0.1%.

GBP/USD - Last: 1.4704

Resistance

1.4760

1.4855

 

Support

1.4680

1.45

 

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