British Pound (GBP)

The pound weakened against the dollar on concern that this year's gains were overdone after the Bank of England left interest rates at a record low yesterday, which is dimming speculations that rates may rise later in the year. The GBP/USD's support is at 1.6000 on the daily chart, if the pair breaks below this level again today, the pair will have a greater chance to decline to 1.5900. Overall, GBP/USD traded with a low of 1.5963 and with a high of 1.6113. Today, no major economic data is expected.

GBP/USD - Last: 1.6065

Resistance

1.6112

1.6160

1.6300

Support

1.6025

1.5965

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