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GBP/USD toying with 1.5700

FXStreet (Edinburgh) - After a brief test of the 1.5680 area, GBP/USD is now looking to close the day at/beyond the 1.5700 psychological handle.

GBP/USD supported at 1.5640

The pair climbed almost a big figure from session troughs in the 1.5640 band to session peaks just ahead of 1.5740 during the European afternoon, just to deflate soon afterwards. In the data space, UK Retail Sales advanced above consensus during October, giving GBP extra wings although for a limited period of time. Tomorrow’s docket only offers the Public Sector Net Borrowing figures, expected at £6.70 billion during October.

GBP/USD relevant levels

At the moment the pair is up 0.15% at 1.5702 and a break above 1.5720 (high Nov.19) would open the door to 1.5737 (high Nov.17) and finally 1.5741 (10-d MA). On the flip side, the initial support lines up at 1.5600 (psychological level) ahead of 1.5590 (low Nov.19) and then 1.5564 (low Sep.6 2013).

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