British Pound (GBP)

The Pound rose against the dollar for the fourth day reaching a high for the month. This occurred as optimism and risk appetite were seen in the market despite the results of the Trade Balance, which came out at -8.7B, worse than the expected -8.2B. Breaching the 1.5780 resistance level might extend further gains in the pair. Overall, GBP/USD traded with a low of 1.5581 and with a high of 1.5778. Today, the Manufacturing Production is expected at 0.4% vs. 0.6% previously and the Interest Rate decision is expected unchanged at 0.5%.

GBP/USD - Last: 1.5744

Resistance

1.5780

Support

1.5680

1.5590

1.5520

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