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)
