The GBP/USD pair trades now at 1.5725 levels, down -0.16% on the day. The pound reversed gains seen yesterday and trades lower as markets forecast UK unemployment rate to decline to 5.9%, while average earnings may continue to increase. Investors may also turn their attention to BOE’s MPC minutes which is expected to throw fresh light on the Britain’s inflation outlook.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5747 (Dec 15 High) above which gains could be extended to 1.5765 (Dec 1 High) levels. On the opposite side, support is seen at 1.5649 (Dec 11 Low), below which it could extend losses to 1.5624 (Dec 9 Low) levels.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5747 (Dec 15 High) above which gains could be extended to 1.5765 (Dec 1 High) levels. On the opposite side, support is seen at 1.5649 (Dec 11 Low), below which it could extend losses to 1.5624 (Dec 9 Low) levels.
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