17 Feb 2015
GBP/USD back near 1.5360 on CPI
FXStreet (Edinburgh) - GBP/USD is recovering part of the ground lost after the release of the inflation figures in the British economy, now climbing to the 1.5360 area.
GBP/USD rebounds on data
After dipping to the sub-1.5340 zone, the pair is now advancing to the 1.5355/60 band after UK consumer prices contracted 0.9% inter-month during January and advanced 0.3% on a yearly basis vs. consensus at -0.8% and 0.3%, respectively. Core prices advanced 1.4% over the last twelve months, surpassing the median and December’s print at 1.3%.
GBP/USD key levels
At the moment the pair is down 0.02% at 1.5360 with the next support at 1.5339 (low Feb.16) ahead of 1.5306 (200h-MA) and then 1.5297 (10-d MA). On the upside, a breakout of 1.5441 (high Feb.16) would aim for 1.5481 (23.6% of 1.7192-1.4952) and finally 1.5486 (low Dec.23).
GBP/USD rebounds on data
After dipping to the sub-1.5340 zone, the pair is now advancing to the 1.5355/60 band after UK consumer prices contracted 0.9% inter-month during January and advanced 0.3% on a yearly basis vs. consensus at -0.8% and 0.3%, respectively. Core prices advanced 1.4% over the last twelve months, surpassing the median and December’s print at 1.3%.
GBP/USD key levels
At the moment the pair is down 0.02% at 1.5360 with the next support at 1.5339 (low Feb.16) ahead of 1.5306 (200h-MA) and then 1.5297 (10-d MA). On the upside, a breakout of 1.5441 (high Feb.16) would aim for 1.5481 (23.6% of 1.7192-1.4952) and finally 1.5486 (low Dec.23).