12 Feb 2015
GBP/USD regains 1.5250, BoE eyed
FXStreet (Edinburgh) - The sterling has found decent support in the 1.5220 area on Thursday, with GBP/USD now rebounding to the 1.5245/50 band.
GBP/USD focus on BoE
The pair manages well to keep the trade above the 1.5200 mark during the week, exhibiting some sort of resilience amidst a generalized better tone from the US dollar. However, spot will be in the spotlight as the BoE will publish its critical Quarterly Inflation Report, followed by the speech by Governor M.Carney.
“The BOE Inflation Report today may validate or quash recent expectations surrounding the BOE pending the central bank’s prognosis for inflation and growth prospects. Expect a familiar 1.5200- 1.5350 range to prevail in the interim”.
GBP/USD levels to watch
As of writing the pair is gaining 0.06% at 1.5250 with the next hurdle at 1.5300 (high Feb.11) ahead of 1.5353 (high Feb.6) and finally 1.5400 (psychological level). On the other hand, a breakdown of 1.5297 (low Feb.10) would aim for 1.5196 (10-d MA) and then 1.5171 (50% of 1.4998-1.5353).
GBP/USD focus on BoE
The pair manages well to keep the trade above the 1.5200 mark during the week, exhibiting some sort of resilience amidst a generalized better tone from the US dollar. However, spot will be in the spotlight as the BoE will publish its critical Quarterly Inflation Report, followed by the speech by Governor M.Carney.
“The BOE Inflation Report today may validate or quash recent expectations surrounding the BOE pending the central bank’s prognosis for inflation and growth prospects. Expect a familiar 1.5200- 1.5350 range to prevail in the interim”.
GBP/USD levels to watch
As of writing the pair is gaining 0.06% at 1.5250 with the next hurdle at 1.5300 (high Feb.11) ahead of 1.5353 (high Feb.6) and finally 1.5400 (psychological level). On the other hand, a breakdown of 1.5297 (low Feb.10) would aim for 1.5196 (10-d MA) and then 1.5171 (50% of 1.4998-1.5353).