Forex: GBP/USD reconquers 1.5900

FXstreet.com (Barcelona) - The sterling is following its European peer on Monday, buoyed by the improved risk appetite ahead of the BoE minutes to be released on Wednesday.
GBP is back to levels above 1.5900, recovering ground after a dovish inflation report by the BoE has dragged the pound to the proximities of 1.5830 last week.

Adding to the bearishness that surrounded the sterling in past sessions, the UK Treasury has transferred the coupons payments from the Gilts purchases, worth £35 billion, to the UK government budget, considered as more QE by analysts.

GBP/USD is now advancing 0.12% at 1.5907 with the next resistance at 1.5925 (hourly high Nov.19) ahead of 1.5987 (MA21d) and 1.6020 (high Nov.9).
On the downside, a break below 1.5852 (MA200d) would expose 1.5828 (low Nov.15) and 1.5826 (low Sep.5).

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