16 Feb 2015
GBP/USD: MPC in focus - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that Cable advanced sharply last week, reaching a fresh 6-week high of 1.5421 on Friday, although finally closed the day below the 1.5400 level.
Key Quotes:
"The BOE's inflation report has provided a boost to the Pound, despite being largely in line with expectations, due to policy makers showing a clear inclination towards a sooner tightening in the economic policy."
"This week, the Central Bank will release the Minutes of its latest meeting, and the surprise there can come from another change in the MPC voting results, as last month, all 9 members voted to keep the economic policy steady."
"Inflation data on Tuesday is expected to have slowed to 0.4% in January, the lowest since the record began in 1989, although for now, plunging oil prices continue to be the perfect excuse of deflationary risks amongst the major economies."
"Technically, the 4 hours chart shows that the price has been consolidating in a tight range near the highs, finding short term buyers in the 1.5370 price zone, albeit the critical level to watch stands slightly below it, at 1.5350, former intraday highs."
"The technical indicators in the mentioned time frame stand above their mid-lines, with the Momentum aiming higher and the price holding well above a bullish 20 SMA, all of which supports further advances particularly if the price manages to regain the 1.5410 price zone."
Key Quotes:
"The BOE's inflation report has provided a boost to the Pound, despite being largely in line with expectations, due to policy makers showing a clear inclination towards a sooner tightening in the economic policy."
"This week, the Central Bank will release the Minutes of its latest meeting, and the surprise there can come from another change in the MPC voting results, as last month, all 9 members voted to keep the economic policy steady."
"Inflation data on Tuesday is expected to have slowed to 0.4% in January, the lowest since the record began in 1989, although for now, plunging oil prices continue to be the perfect excuse of deflationary risks amongst the major economies."
"Technically, the 4 hours chart shows that the price has been consolidating in a tight range near the highs, finding short term buyers in the 1.5370 price zone, albeit the critical level to watch stands slightly below it, at 1.5350, former intraday highs."
"The technical indicators in the mentioned time frame stand above their mid-lines, with the Momentum aiming higher and the price holding well above a bullish 20 SMA, all of which supports further advances particularly if the price manages to regain the 1.5410 price zone."