17 Dec 2014
GBP/USD jumps to the upper side of the range at 1.5730
FXStreet (San Francisco) - The British Pound rebounded in the MA 200 hours level of 1.5690 against the US dollar and following a weak US inflation report, the GBP/USD jumped to the upper part of recent range near 1.5730.
USA reported a big drop in the inflation pace to its lowest figure since February 2014. US CPI experienced its largest drop since December 2008 since the monthly data showed a decline of 0.3% and a yearly fall to 1.3% from 1.7%.
However, as Ryan Littlestone reported, it "is nothing when you look at the core only dropping a tick."
Currently, GBP/USD is trading at 1.5714, down -0.14% on the day, having posted a daily high at 1.5756 and low at 1.5677. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish.
GBP/USD levels
Above 1.2730, the GBP/USD will find resistances at 1.5750 and 1.5780. To the downside, supports are at 1.5690, 1.5675 and 1.5650.
USA reported a big drop in the inflation pace to its lowest figure since February 2014. US CPI experienced its largest drop since December 2008 since the monthly data showed a decline of 0.3% and a yearly fall to 1.3% from 1.7%.
However, as Ryan Littlestone reported, it "is nothing when you look at the core only dropping a tick."
Currently, GBP/USD is trading at 1.5714, down -0.14% on the day, having posted a daily high at 1.5756 and low at 1.5677. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish.
GBP/USD levels
Above 1.2730, the GBP/USD will find resistances at 1.5750 and 1.5780. To the downside, supports are at 1.5690, 1.5675 and 1.5650.