23 Mar 2015
GBP/USD back below 1.4900
FXStreet (Edinburgh) - After climbing as high as the boundaries of 1.5000 the figure overnight, GBP/USD has now deflated to the current 1.4890/1.4900 band.
GBP/USD focus on UK CPI
Second tier calendar in the UK today, with only the CBI’s Industrial Trends Survey due ahead of tomorrow’s more relevant inflation figures. Prior estimates expect headline consumer prices to have risen 0.1% on a year to February and Core prices1.3% YoY vs. previous readings at 0.3% YoY and 1.4% YoY, respectively.
Following the recent FOMC meeting and the increased volatility afterwards, the USD seems to have started the week with the right footing, dragging spot to levels below the 1.4900 handle.
GBP/USD key levels
At the moment the pair is losing 0.41% at 1.4896 with the next support at 1.4842 (200-h MA) followed by 1.4689 (low Mar.19) and finally 1.4635 (57-month low Mar.18). On the upside, a break above 1.4990 (high Mar.23) would open the door to 1.5008 (high Mar.19) and then 1.5155 (high Mar.18).
GBP/USD focus on UK CPI
Second tier calendar in the UK today, with only the CBI’s Industrial Trends Survey due ahead of tomorrow’s more relevant inflation figures. Prior estimates expect headline consumer prices to have risen 0.1% on a year to February and Core prices1.3% YoY vs. previous readings at 0.3% YoY and 1.4% YoY, respectively.
Following the recent FOMC meeting and the increased volatility afterwards, the USD seems to have started the week with the right footing, dragging spot to levels below the 1.4900 handle.
GBP/USD key levels
At the moment the pair is losing 0.41% at 1.4896 with the next support at 1.4842 (200-h MA) followed by 1.4689 (low Mar.19) and finally 1.4635 (57-month low Mar.18). On the upside, a break above 1.4990 (high Mar.23) would open the door to 1.5008 (high Mar.19) and then 1.5155 (high Mar.18).