British Pound (GBP)

The Pound rose against the dollar for the fifth day reaching monthly high level as optimism and risk appetite were leading the markets. The Prime Minister David Cameron mentioned that UK will not join new euro mechanisms to help protect the euro. The Interest Rate decision came out unchanged at 0.5% as expected. Breaching the 1.5880 resistance level might extend farther gains in the pair. Overall, GBP/USD traded with a low of 1.5716 and with a high of 1.5882. Today, the PPI Input is expected at 1.6% vs. 0.9% previously.

GBP/USD - Last: 1.5824

Resistance

1.5880

Support

1.5780

1.5680

1.5590

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