The Pound gained versus the Dollar as EU's plan created a positive mood in the markets. Comments from U.K's current Prime Minister Gordon Brown regarding the election results supported the Pound's gains. Overall, GBP/USD traded with a low of 1.4781 and a high of 1.5054. GBP/USD is still on a downtrend but near oversold RSI conditions, which could lead to a retracement upwards. As long as the pair is below the 1.51 level it remains bearish. Today, Manufacturing Production is expected with 0.3% versus 1.3% prior. NIESR GDP Estimate will be released, prior was 0.4%.

GBP/USD - Last: 1.4825

Resistance

1.4895

1.4955

1.5055

Support

1.4770

1.4655

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