Forex: GBP/USD eyes 1.5800 on risk, UK data

FXstreet.com (Barcelona) - The sterling is ticking higher on Wednesday, propped up mainly by the prevailing risk appetite and the better-than-expected data out of the UK economy during December, which saw the Mortgage Approvals climb to 55.78K (54.03K prev.), Consumer Credit rise to £0.649 billion (£0.081 billion prev.) and the Net Lending to Individuals improve to £1.7 billion (-£0.1 billion prev.).

As of writing, the cross is up 0.12% at 1.5782
Next resistance levels line up at 1.5795 (hourly high Jan.28) followed by 1.5838 (MA10d) and then 1.5852 (high Jan.24).
On the flip side, a breakdown of 1.5678 (low Aug.20) would clear the way to 1.5674 (low Aug.17) and then 1.5657 (Lower Bollinger).