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EUR/GBP reaches 1-month high

FXstreet.com (Córdoba) - The euro continues to outperform the pound on Tuesday and, having broken above the 0.8500 psychological level, it reached its highest level in a month.

EUR/GBP gained more than 70 pips throughout the day and recently peaked at 0.8519 as the GBP faced some pressure on the back of lower-than-expected UK inflation data. At time of writing, EUR/GBP is trading at the 0.8515 zone, where it records a 0.9% daily rise.

On the upside, next resistances could be found at 0.8530 (high Apr 25) and 0.8570 (high Apr 23), while on the downside, supports are seen at 0.8440 (daily low) and 0.8420 (low May 16).

GBP/JPY's bounce at 155.10 is capped at 155.55

After declining around 150 pips in the European session from 156.55 to find support at 155.10, the GBP/JPY bounced at this level but the recovery was capped at 155.55. The pair is currently trading around 155.35.
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Wall Street closes positive on hopes that Fe will keep QE

Another Tuesday and another rally. The US stocks market closed its 19 positive Tuesday in row as investors' confidence was fueled byt Fed officials Dudley and Bullard's comments that suggested the central bank won't reduce QE in the middle term.
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