GBPUSD 18/09/2009

By @ibtimes on

British Pound (GBP) -

The Pound weakened versus the Dollar after U.K. Retail Sales unexpectedly stalled in August as shoppers bought less clothing, sign consumers are cutting back on spending as unemployment rises. Renewed worries that the European banking sector will take more time to recuperate caused a drop in demand for the Pound and it finished weaker versus 15 of the 16 major currencies. All in all, GBP/USD traded with a low of 1.6425 and with a high of 1.6566. Today, Public Sector Net Borrowing is expected at 18B vs. 8B prior.

GBP/USD - Last: 1.6390

Resistance

1.65

1.6560

1.66

Support

1.6355

1.6325

1.63

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