The Pound dropped versus the Dollar following a broad selloff and concerns regarding the EU's future. CPI came out stronger with 3.7% versus 3.5% expected and RPI came out stronger with 5.3% versus 4.8% expected. Overall, GBP/USD traded with a low of 1.4255 and a high of 1.4520. GBP/USD is on a strong downtrend and keeps making new lows. As long as the pair keeps being traded below 1.45 and the 50 day moving averages it remains bearish. Today, MPC Meeting Minutes will be released.

GBP/USD - Last: 1.4275

Resistance

1.4350

1.4500

1.4655

Support

1.4235

1.4185

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