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British CBI  Realized Sales scored 18 points. This is lower than last month’s 21 points, but significantly higher than 11 that were expected. GBP/USD moves up very slowly.

GBP/USD now trades at 1.6150, up from 1.6140 prior to the publication.

Earlier today, the deficit of the government came out higher than expected.  Public Sector Net Borrowing showed a deficit of 7.7 billion pounds, more than half of last month’s number, but significantly higher than expected.

GBP/USD shrugged this off, but later weakened on a very dovish comment from BOE member Fisher, that stated that raising the rates now would be the wrong thing to do.

GBP/USD was trading at 1.6140 before the release. Significant support is at 1.6110, and resistance at the 1.6280 – 1.63 region.

For more on the pound, see the GBP/USD forecast.

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