Forex - GBP/USD down during the U.S. session

Forexpros – The British Pound was lower against the U.S. Dollar on Wednesday after the release of U.S. data on Federal Budget Balance.

GBP/USD was trading at 1.6136, down 1.10% at time of writing.

The pair was likely to find support at 1.6124, today’s low, and resistance at 1.6475, Monday’s high.

Earlier in the day, official data showed that The U.S. federal budget balance fell less-than-expected to a seasonally adjusted -129.4B last month from -43.1B in the preceding month.

Analysts had expected U.S. federal budget balance to fall to -140.0B last month.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.20% to hit 0.8792 and GBP/JPY falling 1.25% to hit 124.00.

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