GBP Mid-day Analysis

While UK mortgage applications fell to an 11 month low for the month overnight actual lending in the UK rose and that combined with initial weakness in the Dollar, leaves the bull camp in control of the Pound. Critical support is seen at the 1.7000 even number level on the charts and resistance isn’t seen until an old double highup at 1.7050. Holding back the Pound somewhat is increased tensions over the leadership issues in the EU.