GBP/USD Consolidating with Firm Tone Before Carney's Testimony

        0129 GMT [Dow Jones] GBP/USD is likely to consolidate with a buoyant tone Tuesday, supported by softer USD sentiment and positive investor risk appetite. But GBP/USD gains are tempered by sterling sales on a firmer EUR/GBP cross after a surprise rise in Germany Ifo November business climate index. Spotlight Tuesday is on Bank of England Governor Carney's testimony before the Treasury Committee at 1000 GMT. The daily chart is tilting bullish as the MACD histogram bars are turning positive, while the slow stochastic measure is bullish at oversold levels. Resistance is at 1.5714 (Monday's high); a breach would target 1.5736 (Thursday's high), then 1.5780 (Nov. 13 high). Support is at 1.5625 (Friday's low); a breach would tilt the near-term outlook negative, targeting 1.5588 (Wednesday's 14-month low), then 1.5504 (Sept. 2, 2013 low). Spot GBP/USD is at 1.5690. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires

        November 24, 2014 20:29 ET (01:29 GMT)

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