British Pound (GBP)

The Pound has halted the nine day rally and could not resist greenback's soar and fell to 3 days low level. The worse than expected CBI Industrial Trends Orders which came out -16 vs. expected -1 also supported the Sterling weakness. Holding below the resistance level of 1.6040 turns the momentum to negative for the GBP/USD pair. Overall, GBP/USD traded with a low of 1.5835 and with a high of 1.6008. Today, the Retail Sales are expected at -0.1% vs. 0.3% previously.

GBP/USD - Last: 1.5927

 

Resistance

1.5920

1.6040

Support

1.5820

1.5730

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