GBP/USD tested $1.5900

Market news

14 December 2010

GBP/USD tested $1.5900

Spiked up from around $1.5860 to $1.5900 on release of stronger than forecast UK inflation data, with rate holding firm. Offers seen placed toward the earlier high at $1.5911, a break of $1.5915/20 to open a move on toward $1.5930 ahead of stronger resistance at $1.5050/55. Support seen back at $1.5860/50.

EMU: Oct Industry Output Sa +0.7% M/M, Wda +6.9% Y/Y

Germany Ifo: Ups Germany 2010 GDP Fcast To +3.7% Vs +3.5%

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