Daily Review 21/10/2009 British Pound (GBP)

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British Pound (GBP)

The Pound weakened on weak U.S data and stock declines. Public Sector Net Borrowing came out 14.8B versus 15.2B expected and 16.1B prior. Overall, GBP/USD traded with a low of 1.6328 and a high of 1.6487. Today, MPC will release its Meeting Minutes expected to show a unanimous vote, but could give more information concerning future Interest Rate decisions and QE policies.

GBP/USD - Last: 1.64

Resistance

1.6425

1.649

1.6525

Support

1.63

1.621

1.612

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