• UK June goods trade deficit came in at GBP 9.184 billion, beat forecasts at GBP 9.30 billion, but widened from GBP 8.00 billion in May
  
  
• Sterling indifferent on UK releases, GBP/USD trades above the 1.5500 handle, stuck in the 1.5515/20 band do far
  
  
• BOE minutes and the inflation report released on Thursday pushed back rate-hike bets this year, dampening sentiment around the GBP
  
  
• Pair moves deeper into the daily cloud, outlook remains bearish 
  
  
• Currently the pair is trading at 1.5518, close to supports at 1.5511 (Daily Tenkan Line), breaks below would open the door to 1.5465 (Daily Low Aug 6) and then 1.5445 (Daily Cloud Base)
  
  
• On the upside, the initial hurdle lines up at 1.5552 (Daily Kijun Line) ahead of 1.5596 (200-HMA)
  
  

Resistance Levels:

R1: 1.5552 (Daily Kijun Line)

R2: 1.5596 (200-HMA)

R3: 1.5638 (Daily High Aug 6)

Support Levels:

S1: 1.5511 (Daily Tenkan Line)

S2: 1.5465 (Daily Low Aug 6)

S3: 1.5445 (Daily Cloud Base)