Forex: GBP/USD keeps the positive below 1.5900
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GBP/USD
FXstreet.com (Barcelona) - The sterling is consolidating below the key level of 1.5900 on Tuesday, retracing previous gains made on higher-than-expected inflation figures in the UK during October. In fact, the CPI rose 2.7% on a yearly basis, above the +2.3% forecasted.
Ahead in the week, jobless rate is due tomorrow along with the Quarterly Inflation Report of the BoE and a speech by Governor M.King.
As of writing, GBPUSD is posting meager gains at 1.5884 or +0.04%.
Next resistance levels lie at 1.5916 (high Nov.13) followed by 1.5989 (MA10d) then the psychological level at 1.6000 and 1.6020 (high Nov.9).
On the other hand, a drop beyond 1.5857 (low Nov.14) would expose 1.5850 (MA200d) then 1.5826 (low Sep.5) and 1.5800 (psychological level).
Ahead in the week, jobless rate is due tomorrow along with the Quarterly Inflation Report of the BoE and a speech by Governor M.King.
As of writing, GBPUSD is posting meager gains at 1.5884 or +0.04%.
Next resistance levels lie at 1.5916 (high Nov.13) followed by 1.5989 (MA10d) then the psychological level at 1.6000 and 1.6020 (high Nov.9).
On the other hand, a drop beyond 1.5857 (low Nov.14) would expose 1.5850 (MA200d) then 1.5826 (low Sep.5) and 1.5800 (psychological level).
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