During yesterday’s trading session, the British pound declined amid disappointing data on business sentiment in Germany and threats about Spain.
Today, at 12:30 (GMT +3) we are waiting for mortgage approvals for August: forecast 28.6K against 28.4K in July. The US data is expected to be neutral. The pound will be in line with the main market tendency as it was on Monday.
The further growth is probable after the level of 1.6244 is broken through. Then the targets will be placed at 1.6272, 1.6316. In case we breach the support level of 1.6206, the next bearish targets will be at 1.6182, 1.6164.
