British Pound (GBP)

The Pound extended its third day of gains versus the Dollar as the construction industry PMI came out better than the expectations for January (53.7 vs. 49.8 forecast). The GBP/USD has been trading very positive in the past three days, and the next resistance line on the daily chart is at 1.6280. As long as the rate is above 1.6050, the pound is more attractive and a long position is preferred. Overall, GBP/USD traded with a low of 1.6128 and with a high of 1.6230. Today, the Services PMI is expected to rise from 49.70 to 51.10.

GBP/USD - Last: 1.6191

Resistance

1.6230

Support

1.6140

1.6080

1.6000

width=481