Forex: GBP/USD eases back to 1.6200 ahead of London
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GBP/USD
FXstreet.com (Barcelona) - The market printed a high at 1.618 during the Asian session, the October-1 high, triggering a move down that has already erased the daily upside and brought the GBPUSD back to the 1.6200 psychological level.
The economic calendar is filled of UK data releases to cheer up the trading day. Inflation reports through both Producer and Consumer Price indexes and retail price index will be followed by the BoE Quarterly Bulleting for Q4.
The upside bias remains, but 1.6220 resistance is keeping the GBPUSD from reaching the 1.6307 September high: "While this holds, scope remains to slip back towards the two month support line at 1.6080 could still be seen", wrote Commerzbank analyst Karen Jones.
The economic calendar is filled of UK data releases to cheer up the trading day. Inflation reports through both Producer and Consumer Price indexes and retail price index will be followed by the BoE Quarterly Bulleting for Q4.
The upside bias remains, but 1.6220 resistance is keeping the GBPUSD from reaching the 1.6307 September high: "While this holds, scope remains to slip back towards the two month support line at 1.6080 could still be seen", wrote Commerzbank analyst Karen Jones.
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