Forex: GBP/USD continues to struggle and is trading at 1.5572
FXstreet.com (Sydney) – The GBP has continued on its downward trend against the dollar and is currently trading at 1.5572. The pair had earlier opened at 1.55821 but had been as high as 1.5585 before easing to current levels. The pair currently finds support at 1.5542, resistance is at 1.5642 and is considered slightly bearish.
The pound continues to be a victim of the dollar’s strength especially after an unexpected increase in job losses in the US. There are other reports of relevance due out this week that may affect the pair including UK trade balance which is expected to drop slightly, housing and inflation figures.
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