British Pound (GBP)

The pound strengthened to above 1.6300 for the first time since January 2010 after an unexpected rise in U.K. housing prices and manufacturing sentiment, which came in at a record high, boosted speculation that interest rates may rise. The Manufacturing PMI came out at 61.5 as expected. Only breaching the resistance level of 1.6300 again will push the pair higher, otherwise a rebound back to 1.62 zones is possible. Overall, GBP/USD traded with a low of 1.6251 and with a high of 1.6328. Today, no major economic data is expected.

GBP/USD - Last: 1.6234

Resistance

1.6300

1.6330

1.6400

Support

1.6190

1.6124

1.6070

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