FXstreet.com (Barcelona) - The sterling is giving away initial gains after the tops above 1.6120 in a context dominated by increasing risk appetite, ahead of tomorrow’s release of the ILO Unemployment Rate and the Claimant Count Change in the UK.

David Song, Currency Analyst at DailyFX, argues “with the BoE scheduled to release the policy meeting minutes on December 19, the sterling looks poised to track sideways over the coming days, but the fresh batch of central bank rhetoric may reinforce a bullish outlook for the GBP/USD as the central bank appears to slowly moving away from its easing circle”.

GBP/USD is now up 0.22% at 1.6113 with the next resistance lining up at 1.6128 (high Dec.6) then 1.6131 (high Dec.4) and 1.6133 (high Nov.2).
On the downside, a breach of 1.5999 (low Dec.10) would bring 1.5992 (MA21d) and finally 1.5988 (low Nov.30).