British Pound (GBP)


The Pound declined versus the Dollar as investors are anticipating the Claimant Count Change and Unemployment data today, fearing the weak data will weigh on the exchange rate. Consumer Price Index came out slightly better with 1.6% versus 1.4% expected but still lower than 1.8% prior. The RPI came out better showing a decline of only -1.3% better than -1.5% forecast and -1.4% prior. Overall, GBP/USD traded with a low of 1.6402 and a high of 1.6660. Today, early unemployment data will probably set the mood for the pound trading today. Unemployment is expected at the high level of 8% versus 7.8% prior and Claimant Count Change expected at 25K versus 24.9K prior

GBP/USD - Last: 1.6490 

Resistance

1.6525

1.66

1.6655

Support

1.64

1.6375

1.6325

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