Tuesday saw the British pound hit a fresh 3-month high against the greenback, breaking resistance in the 1.5880 price zone to peak at 1.5903 from an earlier low of 1.5786 before slight pullback to end the American session at 1.5894, up 0.47% on the day.

At time of writing, the paring is virtually unchanged in early Asia-Pacific, now consolidating below the 1.5900 level as a new day gets underway. If the rally continues in the hours ahead, resistance lies at 1.5936 (23 June 2011 low), while, to the downside, support is noted at 1.5860 (3 Feb high).

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