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GBP/USD Analysis

UFX Bank , UFX Bank

Published 02/09/2010 - 7:32 a.m. EST

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UFX Bank

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British Pound (GBP)

The Pound weakened slightly versus the Dollar as stocks continued to decline and no major economic data was released. RICS House Price Balance came out stronger with 32% versus 28% expected. Overall, GBP/USD traded with a low of 1.5534 and a high of 1.5660. GBP/USD is oversold according to the RSI indicator and a correction back up is possible, but the trend is still downwards. Today, Trade Balance is expected with -6.6B versus -6.8B prior.

GBP/USD - Last: 1.5570

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