16 Feb 2015
GBP/USD consolidates below 1.5400
FXStreet (Córdoba) - GBP/USD was strongly rejected from a 7-week high struck at 1.5439 during the European session and dropped more than 70 pips over the last hours, surrendering intraday gains.
After bottoming out at 1.5365, GBP/USD entered a consolidation phase and has spent the last minutes within a tight range. At time of writing, the pair is trading at the 1.5380 zone, recording a 0.23% loss on the day.
GBP/USD advanced more than 200 pips last week underpinned by a hawkish BoE QIR. The economic calendar is light, with the Eurogroup-Greece negotiations driving markets’ sentiment. Tomorrow, the UK will release January’s consumer price index, with the headline expected to fall 0.8% MoM and to rise 0.3% YoY.
After bottoming out at 1.5365, GBP/USD entered a consolidation phase and has spent the last minutes within a tight range. At time of writing, the pair is trading at the 1.5380 zone, recording a 0.23% loss on the day.
GBP/USD advanced more than 200 pips last week underpinned by a hawkish BoE QIR. The economic calendar is light, with the Eurogroup-Greece negotiations driving markets’ sentiment. Tomorrow, the UK will release January’s consumer price index, with the headline expected to fall 0.8% MoM and to rise 0.3% YoY.