US PCE is due later on in the European afternoon. Ahead this week, PMI results will gauge the health of the British economy. The possibility of increasing the Asset Purchase Programme by £50-75bn in February could put the cable under pressure in the upcoming sessions.
As of writing the cross is down 0.30% at 1.5675 with resistance at 1.5740 (high Jan.27) ahead of 1.5775 (high Dec.21) then 1.5780 (high Nov.30) and 1.5788 (50% of 1.617-1.5408).
On the flip side, a breach of 1.5662 (MA100d) would open the door to 1.5642 (low Jan.27) then 1.5612 (low Jan.25) and 1.5569 (MA55d).
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