Investing.com – The pound rose against the U.S. dollar on Tuesday, extending Monday's rebound ahead of data on U.K. consumer confidence and the British retail sector.
GBP/USD hit 1.4502 during early European trade, gaining 0.25%. Cable was likely to find support at 1.4229, the low of May 20 and a 14-month low, and resistance at 1.4917, the high of May 13.
Later in the day, Britain's Nationwide Building Society was due to release the results of a monthly survey of U.K. consumer confidence, a leading indicator of consumer spending. The British Retail Consortium, an industry group, was also due to release a report on U.K. retail prices.
Sterilng also climbed versus the yen on Tuesday, with GBP/JPY rising 0.6% to reach 132.98.
Meanwhile, the White House warned BP on Monday that it faced "many billions of dollars" in fines for the Gulf of Mexico oil spill disaster.
GBP/USD hit 1.4502 during early European trade, gaining 0.25%. Cable was likely to find support at 1.4229, the low of May 20 and a 14-month low, and resistance at 1.4917, the high of May 13.
Later in the day, Britain's Nationwide Building Society was due to release the results of a monthly survey of U.K. consumer confidence, a leading indicator of consumer spending. The British Retail Consortium, an industry group, was also due to release a report on U.K. retail prices.
Sterilng also climbed versus the yen on Tuesday, with GBP/JPY rising 0.6% to reach 132.98.
Meanwhile, the White House warned BP on Monday that it faced "many billions of dollars" in fines for the Gulf of Mexico oil spill disaster.