Forex: GBP/USD back to the red, around 1.5830 (Barcelona) - After climbing to levels just shy of the key resistance at 1.5900, the sterling gave away part of those gains and is trading back to the region of 1.5830

Christopher Vecchio, Currency Analyst at DailyFX, comments, “The BoE January meeting Minutes released today showed an 8-1 vote in favor of keeping the APT on hold at £375 billion; but with yearly inflation running high at +2.7%, more QE seems unlikely at present time. Instead, any stimulus is unlikely until mid-year, when Mark Carney replaces Mervyn King as Governor, which means that further pressure on the Sterling is likely as economic conditions continue to muddle".

The cross is now losing 0.03% at 1.5833, with the next support at 1.5807 (2013 low Jan.21) ahead of 1.5804 (B Bollinger) and then 1.5778 (low Ago.31).
On the upside, a resistance levels are lying at 1.5893 (high Jan.21) followed by 1.5907 (MA200d) and finally 1.5978 (MA10d).