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GBP/USD returns to 1.5150/55

FXstreet.com (Barcelona) - After a failed attempt to retake the key resistance at 1.5200, the sterling run out of steam and is back to trade around the mid 1.51s at the end of the NA session.

Key day for the pound tomorrow, as the BoE minutes will be in the limelight, as well as the Public Sector finances and April Retail Sales. “The release of the latest MPC minutes tomorrow will be closely watched to assess whether the improving inflation or growth outlook is dominating near-term policy direction. A shift away from additional monetary stimulus would support the pound in the near-term whereas should lower inflation be judged as allowing more scope for easing to support growth it would likely weigh upon the pound”, assessed Lee Hardman, Currency Analyst at BTMU.

GBP/USD is now losing 0.65% en 1.5156 with the next support at 1.5034 (low Apr.4) followed by 1.5026 (low Mar.20) and finally 1.5015 (76.4% of 1.4832-1/5607).
On the upside, a surpass of 1.5221 (low May.21) would expose 1.5281 (high May 20) and then 1.5298 (MA10d).

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