GBPUSD pound weakened against dollar to blame

GBP / USD: The pound weakened against the dollar to blame for the strong US reports

On Thursday
the pound was down against the US dollar,
as demand for the dollar continues
significantly supported through
upbeat US economic
reporting and early raising expectations
rate of the Federal Reserve System.

During
European morning trade, the pair GBP / USD
reached 1.6276, the lowest level since 18
September and subsequently consolidated at
1.6293, shedding 0.28%.

The pair was likely
likely to find support at 1.6244, the low of
September 18 and resistance at 1.6416,
Wednesday’s high.

The dollar received
extra support after
as the report, released on Wednesday, showed
that the volume of home sales in the primary
US market grew by 18.0% last month
to 504,000 units, the highest level
from May 2008.

Sterling
higher against the euro, still
It is hovering around a two-year peak,
EUR / GBP pair fell 0.22% to 0.7804.

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