FXstreet.com (Barcelona) - The sterling is printing fresh session highs in the vicinity of 1.5990 on Wednesday as risk appetite is prevailing, ahead of the open in the European markets.
GBP is thus recovering terrain lost on Tuesday, after the selling pressure dragged the cross to levels below 1.5920
Ahead in the day, the CBI Industrial Trends Survey is due, with consensus expecting an improvement to -6 in October from -8.
GBP/USD is now advancing 0.22% at 1.5990 with the next resistance at 1.6053 (MA10d) followed by 1.6094 (MA21d) then 1.6178 (high Oct.17) and 1.6218 (high Oct.5).
On the other hand, a penetration of 1.5940 (Lower Bollinger) would expose 1.5915 (low Oct.23) then 1.5912 (38.2% of 1.5269-1.6310) and 1.5882 (low Sep.6).
GBP is thus recovering terrain lost on Tuesday, after the selling pressure dragged the cross to levels below 1.5920
Ahead in the day, the CBI Industrial Trends Survey is due, with consensus expecting an improvement to -6 in October from -8.
GBP/USD is now advancing 0.22% at 1.5990 with the next resistance at 1.6053 (MA10d) followed by 1.6094 (MA21d) then 1.6178 (high Oct.17) and 1.6218 (high Oct.5).
On the other hand, a penetration of 1.5940 (Lower Bollinger) would expose 1.5915 (low Oct.23) then 1.5912 (38.2% of 1.5269-1.6310) and 1.5882 (low Sep.6).
