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Forex: GBP/USD looking to extend gains further

FXstreet.com (Barcelona) - After consolidating yesterday's gains above the 1.5000 mark, the GBP/USD jumped off to 1.5144 high ahead of the London opening, only to take profits for a while. Now, as the session unfolds and the UK CB Leading Economic Index is ahead at 10:00 GMT, the pair got back to those highs and is attempting at extending gains.

Also in the economic calendar is BoE and MPC member Dale's speech at 11:00 GMT. Then, the market will be awaiting the release of US CPI, industrial production, Reuters/Michigan consumer sentiment and NY Empire State manufacturing index.

UBS analysts are still bearish: “Yesterday's sharp advance does not change the broader bearish picture”, wrote analyst Gareth Berry, pointing to important resistance at 1.5199 while support is at 1.4912 ahead of 1.4832.

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