13 Jan 2015
GBP/USD rescued on Carney
FXStreet (Guatemala) - GBP/USD is trading at and made a high of and a low of and down on the day.
GBP/USD was offered overnight on the back of the UK's inflation data results falling to the lowest for over 14 years for the month of December. This was coupled with disappointments in producer prices also giving the biggest fall in 5-years in an annual basis.
However, Carney suggests that rates will normalise within “the foreseeable future and that was enough to see the major bounce and we rallied up to score through the 1.5080 resistance. Technically, we remain within familiar ranges with 1.52 the target for the bulls that if broken with convincing closes, we are set to challenge the 1.5600 bearish drop for the start of the year. Below 1.5000, there could be slippage to the downside for a run at the 1.4910/1.4813 long term Fibo and 2013 low.
GBP/USD was offered overnight on the back of the UK's inflation data results falling to the lowest for over 14 years for the month of December. This was coupled with disappointments in producer prices also giving the biggest fall in 5-years in an annual basis.
However, Carney suggests that rates will normalise within “the foreseeable future and that was enough to see the major bounce and we rallied up to score through the 1.5080 resistance. Technically, we remain within familiar ranges with 1.52 the target for the bulls that if broken with convincing closes, we are set to challenge the 1.5600 bearish drop for the start of the year. Below 1.5000, there could be slippage to the downside for a run at the 1.4910/1.4813 long term Fibo and 2013 low.