By
GCI Financial |
Technical Analysis | Oct 14, 2011 10:16AM GMT |
In the UK, goods trade deficit declined to £7.8 billion in August, compared to a deficit of £8.2 billion recorded in July. Additionally, the overall trade deficit narrowed to £1.9 billion in August, from a trade deficit of £2.3 billion in July.
In the Asian session, at GMT0300, the pair is trading at 1.5740, with the GBP trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.5676, and a fall through could take it to the next support level of 1.5613. The pair is expected to find its first resistance at 1.5794, and a rise through could take it to the next resistance level of 1.5849.
Please see the attached chart below.
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