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GBP/USD finishing up higher in negative territory

FXStreet (Guatemala) - GBP/USD is trading at 1.5870, up 0.23% on the day, having posted a daily high at 1.5884 and low at 1.5790.

GBP/USD is closing on a less negative tone within the overall bearish set up. With the US jobs now out of the way, the pair now depends upon the BoE’s inflation report next week. Analysts at RBS said that they expect the November Inflation Report to broadly validate market expectations for the first Bank Rate rise to come in mid-2015. “Given how tricky it can be for central banks to nuance their policy communication – a little bit looser now, a little bit tighter later – we suspect the Bank will be content for the November forecasts to broadly validate current market pricing (the Mansion House speech back in June is a timely reminder of the BoE's ability to move the markets in a more hawkish direction as and when required)”.

GBP/USD noteworthy levels

With spot trading at 1.5871, we can see next resistance ahead at 1.5884 (Daily High), 1.5890 (Daily Classic PP), 1.5897 (Weekly Classic S1), 1.5939 (Hourly 100 SMA) and 1.5948 (Daily Classic R1). Support below can be found at 1.5843 (Hourly 20 EMA and 1.5834 (YTD Low).

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