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FXstreet.com (San Francisco) - GBP/USD traded down to 1.5865 during the Asia-Pacific session Tuesday, as risk appetite waned and investors favored the safety of the US dollar as Asian stocks traded in red.

At time of writing, the pair is quoted at session lows, recording a 0.15% loss so far on the day since opening the trading day at 1.5891. The FXstreet.com Independent Analysis Team recognizes support levels at 1.5860, 1.5820 and 1.5790, while, if bulls manage to regain the upside, resistance levels may be found at 1.5920, 1.5960 and 1.6000.

Risk event for the pound in the session ahead includes inflation data, with February CPI data due for release by UK National Statistics at 0930 GMT, a key indicator for BoE watchers.

From David Song, Currency Analyst at DailyFX: "Although the headline reading for inflation is expected to slow to 3.3% in February, sticky price growth would dampen the Bank of England's scope to expand its balance sheet further, and the policy meeting minutes due out later this week may talk down expectations for more quantitative easing as central bank officials expect to see a more robust recovery in 2012. As the BoE now sees a limited risk of undershooting the 2% target for inflation, we should see the board continue to soften its dovish tone for monetary policy, and the bank may stick to a wait-and-see approach as the fundamentals for the U.K. improves."

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