Daily Review British Pound (GBP) Dec 22 2009

By IBTimes Staff Reporter | December 22 2009 4:51 AM

Dollar strength has extended the Pound weakness which failed to hold above 1.61 reaching a fresh 2 month low. If the pair remains below the 1.6050 level it might easily break under the 1.6 level and fall to the 1.58 zone. Overall, GBP/USD traded with a low of 1.6028 and a high of 1.6123. Today, Final 3rd quarter GDP expected at -0.1% vs. -0.3% previously. Current Account is expected at -8B vs. -11.4B previously.

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GBP/USD - Last: 1.6260

Resistance

1.6125

1.62

1.625

Support

1.6

1.59

1.579

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