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GBP/USD: technical picture

GBP/USD recovered to $1.5500 following the yesterday's break below this support to $1.5450. Growing risk appetite, strengthened by stronger-than-expected German industrial production, is pushing the sterling higher. Tomorrow the inverstors will be carefully watching the BoE meeting. Regulator is not expected to change the monetary policy. 

Rabobank: The tone of UK economic data has improved sufficiently, so we expect no policy easing. However, the UK economy is still weak and sterling is therefore still vulnerable.

The next key resistance for the pair  is seen at $1.5580 (50.0% Fibo), $1.5600 (recent highs) and $1.5620 (200-day EMA). Watch the $1.5400 (38.2% Ichimoku) and $1.5350 (daily Ichimoku) support. 

Chart. Daily GBP/USD

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