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Forex: GBP/USD in session highs

FXstreet.com (Barcelona) - The pound keeps pushing higher on Tuesday, hovering over 1.5320 and printing fresh session highs at the same time.

“In view of the continued weakness of the real economy and the more stable position of sterling we anticipate that the tone of the April MPC minutes due tomorrow will be dovish and the risk of further monetary stimulus this year will remain in place. This implies that any sterling gains made on this morning’s data could prove temporary and we would favour selling rallies”, recommended Jane Foley, Strategist at Rabobank.

At the moment, the cross is up 0.18% at 1.5310 facing the next hurdle at 1.5386 (high Apr.15) followed by 1.5409 (high Apr.12) and then 1.5412 (high Apr.11).
On the other hand, a breakdown of 1.5251 (low Apr.9) would aim for 1.5239 (low Apr.8) and finally 1.5225 (MA21d).

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