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Forex: GBP/USD in session highs around 1.5485/90

The sterling keeps the bearish tone on Tuesday, unable to gather any traction that push the cross above the key resistance at 1.5500 so far, as the sedative effects of last week’s quarterly inflation report plus King’s speech and MPC Weale’s comments over the week end are still weighting on GBP.

Empty calendar in the UK today would prompt the GBP to follow its European peer, waiting for tomorrow’s BoE minutes.

At the moment, GBP/USD is up 0.11% at 1.5483 facing the next resistance at 1.5544 (high Feb.14) ahead of 1.5550 (high Feb.15) en route to 1.5614 (MA10d).
On the flip side, a breach of 1.5414 (low Jul.13) would aim for 1.5393 (low Jul.12) and finally 1.5375 (low Jun.6).

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