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EUR/USD Surges Past 1.1570 as Weak US Retail Sales Fuel Bullish Momentum 
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GBP/USD was rejected from daily highs above the 100-day SMA at 1.5479 on Monday and pulled back to trade around opening levels.
- Cable has been stuck between 1.5929 and 1.5107 since May 2015 (6 months), opened Tuesday 1.5416, traded range-bound between 1.5410-28 in Asia, currently at 1.5425
- Supports are seen at 1.5410 (hourly cloud top), 1.5404 (Nov 2 low) and 1.5370 (20- DMA)
- Resistances are lined up at 1.5436 (daily cloud top), 1.5479 (100 DMA) ahead of 1.55 (Trendline resistance)
- Focus on crucial UK construction PMI report due later in the session, and also US factory orders and IBD/TIPP Economic Optimism
- Market expectations are for UK construction sector activity to have slowed to 58.9 points in Oct versus 59.9 booked in Sept
- Any positive surprise could buoy Sterling bulls, pair could tests 1.55 zone, Techs are neutral
Resistance Levels:
R1: 1.5436 (daily cloud top)
R2: 1.5479 (100 DMA)
R3: 1.55 (Trendline resistance)
Support Levels:
S1: 1.5410 (hourly cloud top)
S2: 1.5404 (Nov 2 low)
S3: 1.5370 (20- DMA)
