FxWirePro: GBP/USD spike to 1.5506 quickly sold off, slips back to 1.5480 levels

Buying interest in Sterling helped cable spike above 1.55 levels after an uptick in the European equities boosted risk-on.

• But the pair was rejected at 1.5506 and has pared most of the gains and slumped to 1.5480 levels
• Markets to focus on BOE Carney's testimony a Treasury Committee on the Bank of England bill today
• US housing data, due ahead in the NY session, could influence the pair, strong reading could push up Dec rate hike bets 

Resistance Levels:

R1: 1.5492 (Daily Cloud Top)
R2: 1.5498 (Daily High Oct 19)
R3: 1.5508 (Daily High Oct 15)

Support Levels:

S1: 1.5428 (Daily Low Oct 19)
S2: 1.5406 (Daily Cloud Base)
S3: 1.5400 (Daily Low Oct 16 & psychological level)