FXstreet.com (Córdoba) - The Pound is pulling back after hitting at 1.6648 the highest price of the day. GBP/USD has been moving with a downside bias since then and currently trades below 1.6600 at 1.6589/93, 0.55% above today's opening price. Resistance levels, at the moment lie at 1.6675/85 (Nov 20 high) and above here 1.6700 and 1.6755 (Nov 19 high). On the downside, support levels lie 1.6530 and below at 1.6495/00.
The FastBrokers Research Team affirms: Britain will re-enter the data wire tomorrow with the release of BBA Mortgage Approvals and Prelim Business Investment. Last week's discouraging outlook from Nationwide and Bloomberg in regards to the outlook for Britain's housing market in 2010 could place a little more weight on tomorrow's Mortgage Approvals number. However, investors will likely be paying more attention to Britain's Inflation Report Hearings.