FxWirePro: Sterling consolidating previous day's gains, GBP/USD supported above 1.5427

Sterling enjoyed a positive session after BoE said China's stock-market slump did not signal a slowdown for Britain.

• Cable opened at 1.5441 and traded range bound between 1.5462/35, a fraction firmer in a calm Asian session
• Later in the day, U.S. producer price index, University of Michigan consumer sentiment index and budget deficit data will be in focus for cues 
• GBP/USD is currently trading at 1.5455, with immediate resistance at 1.5476 (Daily High Sep 10), breaks above could take the pair to 1.5490 levels
• On the downside support is seen at 1.5427 (Hourly Tenkan Line) and further below at 1.5389 (21-DMA)

Resistance Levels:

R1: 1.5476 (Daily High Sep 10)
R2: 1.5492 (50% of 1.5820-1.5164)
R3: 1.5508 (Daily High Aug 27)

Support levels:

S1: 1.5427 (Hourly Tenkan Line)
S2: 1.5389 (21-DMA)
S3: 1.5352 (200 DMA)