22 Jan 2015
GBP/USD capped by 1.5180
FXStreet (Edinburgh) - The sterling remains on the positive side on Thursday, with GBP/USD advancing to 1.5170/80.
GBP/USD better on risk-on trade
The sentiment towards the risk-associated assets is bolstering today’s upside in the pair, recovering the ground lost post-BoE meeting on Wednesday. In the data front, the UK Public Sector Net Borrowing expanded to £12.465 billion during December, up from £11.728 billion registered in the previous month.
Previously, MPC David Miles commented that the UK economy is far from deflation, stressing at the same time that a lower CPI does not necessarily mean more monetary stimulus is needed. He also added that there is no urgency in rising rates.
GBP/USD levels to watch
As of writing the pair is up 0.26% at 1.5172 with the next resistance at 1.5200 (high Jan.20) ahead of 1.5267 (high Jan.15) and then 1.5274 (high Jan.6). On the downside, a break below 1.5076 (low Jan.21) would expose 1.5058 (low Jan.20) and finally 1.5034 (2015 low Jan.8).
GBP/USD better on risk-on trade
The sentiment towards the risk-associated assets is bolstering today’s upside in the pair, recovering the ground lost post-BoE meeting on Wednesday. In the data front, the UK Public Sector Net Borrowing expanded to £12.465 billion during December, up from £11.728 billion registered in the previous month.
Previously, MPC David Miles commented that the UK economy is far from deflation, stressing at the same time that a lower CPI does not necessarily mean more monetary stimulus is needed. He also added that there is no urgency in rising rates.
GBP/USD levels to watch
As of writing the pair is up 0.26% at 1.5172 with the next resistance at 1.5200 (high Jan.20) ahead of 1.5267 (high Jan.15) and then 1.5274 (high Jan.6). On the downside, a break below 1.5076 (low Jan.21) would expose 1.5058 (low Jan.20) and finally 1.5034 (2015 low Jan.8).