British Pound (GBP)

The Pound strengthened vs. the Euro and was very volatile against the Dollar as speculations believe that the Bank of England will be forced to raise its benchmark interest rate before the end of the year, even after it left the rate unchanged at 0.5 percent today. The GBP/USD's support is 1.6000 on the daily chart, if the pair breakdown this level the Dollar will be stronger and the pair could reach 1.5900 level. Overall, GBP/USD traded with a low of 1.6009 and with a high of 1.6137. Today, PPI Input is expected to decline from 3.40% to 1.30%.

GBP/USD - Last: 1.6060

Resistance

1.6130

1.6172

1.6265

Support

1.6050

1.6000

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