15 Sep 2015
GBP/USD side-lined around 1.5430, UK CPI eyed
FXStreet (Mumbai) - The GBP/USD pair extends its overnight side-ways movement into the early European hours, as markets prefer to remain on the side-lines ahead of the crucial UK CPI data due later today.
The UK CPI in focus
The GBP/USD pair trades muted at 1.5429, hovering around session highs reached at 1.5434 during mid-Asia. After a volatile session on Monday, the cable remain calm ahead of Europe open with the UK CPI data due later this session, expected to be the main market mover.
The UK consumer price growth of negative 0.1% is anticipated in August, y/y, after a 0.1% advance reported in July, while 0.2% growth in consumer prices is anticipated on a monthly basis, compared to the 0.2% decline reported in July.
Meanwhile, the US dollar seems to extend its upbeat moment from the last US session, which also keeps a check on the upside in GBP/USD.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5473 (Sept 14 High) above which gains could be extended to 1.5509 (Aug 27 High) levels. On the flip side, support is seen at 1.5400 below which it could extend losses to 1.5368 (Aug 27 Low) levels.
The UK CPI in focus
The GBP/USD pair trades muted at 1.5429, hovering around session highs reached at 1.5434 during mid-Asia. After a volatile session on Monday, the cable remain calm ahead of Europe open with the UK CPI data due later this session, expected to be the main market mover.
The UK consumer price growth of negative 0.1% is anticipated in August, y/y, after a 0.1% advance reported in July, while 0.2% growth in consumer prices is anticipated on a monthly basis, compared to the 0.2% decline reported in July.
Meanwhile, the US dollar seems to extend its upbeat moment from the last US session, which also keeps a check on the upside in GBP/USD.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5473 (Sept 14 High) above which gains could be extended to 1.5509 (Aug 27 High) levels. On the flip side, support is seen at 1.5400 below which it could extend losses to 1.5368 (Aug 27 Low) levels.