Forex: GBP/USD consolidates above 1.6100
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GBP/USD
FXstreet.com (Barcelona) - The sterling is clinching to the 1.6100 figure on Tuesday, trimming initial gains after climbing as high as 1.6133. The risk appetite seems to be taking a breather at the moment, bringing a note of relief to the safe havens.
Interesting week ahead for the sterling, as the Autumn Forecast Statement is due tomorrow and the BoE will hold its monetary policy meeting on Thursday. Consensus indicates that the central bank would leave intact both the lending benchmark and the asset purchase programme at 0.5% and £375 billion.
GBPUSD is now advancing 0.12% at 1.6110 facing the next resistance at 1.6133 (high Nov.2) followed by 1.6176 (high Nov.1) and then 1.6178 (high Oct.17).
On the flip side, a breach of 1.6050 (MA55d) would bring 1.6023 (MA10d) and then 1.5988 (low Nov.30).
Interesting week ahead for the sterling, as the Autumn Forecast Statement is due tomorrow and the BoE will hold its monetary policy meeting on Thursday. Consensus indicates that the central bank would leave intact both the lending benchmark and the asset purchase programme at 0.5% and £375 billion.
GBPUSD is now advancing 0.12% at 1.6110 facing the next resistance at 1.6133 (high Nov.2) followed by 1.6176 (high Nov.1) and then 1.6178 (high Oct.17).
On the flip side, a breach of 1.6050 (MA55d) would bring 1.6023 (MA10d) and then 1.5988 (low Nov.30).
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