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Forex pairs in this Article » GBP/USD (Barcelona) - Having climbed from support at 1.5863 during the US session, GBPUSD rose to post an overnight high at 1.5893 before sharply declining to post a morning low at 1.5871.

A quiet overnight session saw New Zealand Retail Sales disappoint expectations at -0.4%/0.5% QoQ and -0.3%/0.6% QoQ ex Auto Sales. In Australia, Consumer Confidence came in at 5.2% against a previous reading of 1%. Looking ahead French CPI at 07:45 GMT and Portuguese GDP at 09:00 GMT precedes UK Unemployment, Average Earnings, Claimant Count Change and Claimant Count Rate at 09:30 GMT. An Italian 10 year auction can be expected today whilst EU Industrial Production is due at 10:00 GMT. The European calendar is completed by the BoE Quarterly Inflation report and Governor Kings speech at 10:30 GMT.

The Danske Reseach team recommend selling Cable at 1.5930 for a 1.5826 objective and a stop at 1.5965. Elsewhere, Asian stocks closed higher and European futures look to be following suit alongside commodities.
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