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Forex - GBP/USD down in U.S. trade

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Forex Pros – The British Pound was lower against the U.S. Dollar on Wednesday after the release of U.S. data on Trade Balance.

GBP/USD was trading at 1.6364, down 0.02% at time of writing.

The pair was likely to find support at 1.6271, Monday’s low, and resistance at 1.6517, today’s high.


Earlier in the day, official data showed that The U.S. trade balance fell more-than-expected to a seasonally adjusted -48.2B last month from -45.4B in the preceding month whose figure was revised up from -45.8B.

Analysts had expected U.S. trade balance to fall -47.0B last month.


Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 1.33% to hit 0.8687 and GBP/JPY rising 0.001% to hit 132.38.

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