Forex: GBP/USD falls on Lacker's opposition to easing

FXstreet.com (Barcelona) - With strong upside resistance at 1.5930 today and pilling spikes to 1.5935, the GBPUSD eased back again after the New York opening, reaching 1.5909 in search for intraday support to hold gains. The greenback is strengthening after Fed's Lacker remarks.

The FOMC member is in favor that the US Congress limits the central bank's credit policy and is against linking the policy to the unemployment rate. Lacker warned that larger balance sheets also means bigger chances for mistakes.

"Still in a process of testing 1.5920 resistance area and due to the lack of downward impulse I favor a break through 1.5920, en route to 1.6020 and 1.6175", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial intraday support at 1.5880, followed by the crucial 1.5837.