British Pound (GBP)

The Pound recovered from Friday's losses and posted important gains across the board and was the best performer among majors. The Sterling rose in expectance of today's 4th quarter GDP figures. In the intraday charts GBP/USD seems to have created a double top and is expected to go down but the 200 day moving average might act as a strong support and send it upwards. Overall, GBP/USD traded with a low of 1.6087 and a high of 1.6260. Today, 4th quarter GDP is expected at 0.4% vs. -0.2% previously. The BBA Mortgage Approvals is expected at 45K vs. 44.7K previously.

GBP/USD - Last: 1.6250

Resistance

1.6285

1.6315

1.6350

Support

1.6165

1.6095

1.6075

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