The pound fell under the 1.6 level and erased gains versus the dollar after a report showed the U.K.'s economy shrank to -0.2% more in the third quarter than economists forecast at -0.1%. Concerns about that the U.K.'s fiscal condition is deteriorating, helped the dollar get stronger. The Current account that came out -4.7B better than expected -8B could not support the sterling. Overall, GBP/USD traded with a low of 1.5920 and a high of 1.61. Today, the BBA Mortgage Approvals expected at 43K vs. 42.2K previously. Also, BOE MPC Meeting Minutes expected.

GBP/USD - Last: 1.597

Resistance

1.603

1.6075

1.6125

Support

1.5925

1.584

1.579

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