FXstreet.com (Barcelona) - The sterling is trading in session highs on Wednesday, climbing for the third consecutive day as risk-on trade is sharpening. Sentiment remained buoyant overnight, pushing risk-associated assets to new highs, ahead of the European open.
BoE minutes and the ILO unemployment rate are due later. Market consensus expects the jobless rate to come in unchanged at 8.1%.
At the moment the cross is up 0.14% at 1.6136, and a break above 1.6138 (MA21d) would bring 1.6142 (high Oct.8) followed by 1.6218 (high Oct.5) and 1.6273 (high Sep.28).
On the downside, support levels lie at 1.6061 (hourly low Oct.16) ahead of 1.6020 (low Oct.15) then 1.5981 (Lower Bollinger) and 1.5975 (lows Oct.9-10).
BoE minutes and the ILO unemployment rate are due later. Market consensus expects the jobless rate to come in unchanged at 8.1%.
At the moment the cross is up 0.14% at 1.6136, and a break above 1.6138 (MA21d) would bring 1.6142 (high Oct.8) followed by 1.6218 (high Oct.5) and 1.6273 (high Sep.28).
On the downside, support levels lie at 1.6061 (hourly low Oct.16) ahead of 1.6020 (low Oct.15) then 1.5981 (Lower Bollinger) and 1.5975 (lows Oct.9-10).
