GBP/USD – 1.5730 the key level to the topside by Milan Cutkovic

GBP/USD is hitting fresh intraday highs, inspired by the gains in the EUR/USD. I’m not seeing any reports about the flows as of now, but momentum looks decent and we should definitely keep an eye on that pair as it approaches key resistance at 1.5730. It has been rejected twice since the consolidation on November 14th began and a daily close above would confirm the double bottom at 1.5590 and attract further buying. Next resistance then noted around 1.5875.

Regarding upcoming event risk, BoE’s Carney will speak tomorrow around 10:00 GMT and we’ll see the UK inflation figures being released on Wednesday at 09:30 GMT.


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