GBP/USD below $1.6000
GBP/USD is trading below the $1.6000 mark on Tuesday, holding below the yesterday’s peak at $1.6020. The pair is trading in the area of the July-September support trend line and holds below the H4 Ichimoku cloud.
US budget problems remain in focus this week. The market is also waiting for the release of the UK inflation figures for September at 8:30 GMT (forecast: +2.6%, prior: +2.7%). Tomorrow morning Britain is scheduled to release a bunch of important labor market data.
Support: $1.5950, $1.5915, $1.5900
Resistance: $1.6000, $1.6020, 1.6070/80
Chart. H4 GBP/USD