FXWW News/GBP crosses/Technical Analysis

Cable: Decent technical resistance near 1.5280

Nice rally in the GBP after the MPC minutes and cable is back above 1.5200. There is decent technical resistance starting at 1.5280 (see chart) which should prove difficult to overcome.

EUR/GBP is back below .8650 and the target there is hourly lows at .8610.

The GBP was sold heavily yesterday after CPI data and is being bought today on central bank minutes. All of which will be forgotten after Bernanke tomorrow.

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