British Pound (GBP)

The pound was among the only currencies losing gains to the greenback as the BOE Gov, Mervyn King, mentioned that Interest rates will probably stay low to boost the local economy. The Claimant Count Change came out at 2.4k, worse than the expected -3.3k and thus halting Sterling from advancing. Holding above the 1.6080 support level might push the pair higher to 1.62 areas. Overall, GBP/USD traded with a low of 1.5985 and with a high of 1.6184. Today, CBI Industrial Trends Orders are expected at -9 vs. -16.

GBP/USD - Last: 1.6100

Resistance

1.6170

Support

1.6120

1.6070

1.5980

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