British Pound (GBP)

The Pound weakness across the board remains intact. Sterling fell this week against all of its 16 most-traded counterparts on revived concern banking losses will stall the U.K.’s economic recovery. The Pound dropped against the Dollar to a 2 week low on speculation US policy makers will signal they may withdraw economic stimulus measures. The Pound also had its biggest weekly drop against the Euro in eight months after the BOE said it may cut the deposit rate paid to financial institutions. Overall, GBP/USD traded with a low of 1.6230 and with a high of 1.6452.

GBP/USD - Last: 1.6210 

Resistance

1.6325

1.6375

1.6435

Support

1.6185

1.6155

1.6115

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