Some stops reportedly reside above 1.8615. These could inflate GBP/USD towards 1.8635 (Monday's low) if tripped. Sell interest ahead of 1.8615 kept a lid on sterling in early European trade, as the pound benefited from the continent's absorption of the news that September's RICS house price balance rose to a four-year high of 45.1.
1.8650 (Tuesday's Asian session base) is a resistance level north of 1.8635. Cable support points include 1.8520, and 1.8500. Demand at 1.8520 propped the rate on two separate occasions yesterday--firstly in early European trade, and then again after yesterday's publication of more hawkish-than-expected FOMC minutes. A large exotic option barrier reportedly resides at 1.8500.
Looking ahead: the Fed will publish its Beige Book of regional economic conditions at 18:00GMT.
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