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Forex pairs in this Article » GBP/USD (Edinburgh) -The GBP/USD is following the increasing risk appetite on Tuesday, bouncing off lows around 1.5040 to retake 1.5100 the figure.

GBP/USD focus on BoE minutes

The pound managed to recover the ground lost after the higher UK inflation figures during June dragged the pair to the boundaries of 1.5040. Analysts at RBS suggested “To really get a stronger move up here we need to see a daily close above 1.5195/1.5200 resistance. If we do get above 1.52 then this opens the way towards 1.54/1.55 where the next main resistance lies”. In another tone, MPC’s P.Fisher stressed that any form of tightening in the UK may be years away, although the impact on the sterling was muted.

GBP/USD levels to watch

At the moment the pair is up just 0.01% at 1.5102 with the next resistance at 1.5143 (high Jul.16) followed by 1.5173 (38.2% of 1.5753-1.4814) and then 1.5222 (high Jul.11). On the downside, a violation of 1.5028 (low Jul.15) would clear the way to 1.5018 (50% of 1.4814-1.5222) and then 1.5000 (psychological level).
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