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21 May 2013
GBP/USD in lows around 1.5150
FXstreet.com (Barcelona) - The sterling is intensifying its intraday downside on Tuesday, falling to the vicinity of 1.5140 although gaining some pips to the 1.5150 region.
“Is the UK belatedly moving back into the developed economies' inflation mainstream? It is too soon to say for sure, but a 2.4% headline CPI outturn 'feels' much less problematic than 2.8% and certainly presents a more favourable backdrop for Mark Carney should he be inclined to push for more aggressive 'monetary activism'”, assessed Ross Walker, Strategist at RBS.
The cross is now losing 0.64% en 1.5157 and a violation of 1.5128 (61.8% of 1.4832-1.5607) would bring 1.5034 (low Apr.4).
On the upside, resistance levels align at 1.5281 (high May 20) followed by 1.5298 (MA10d) and then 1.5331 (high May 14).
“Is the UK belatedly moving back into the developed economies' inflation mainstream? It is too soon to say for sure, but a 2.4% headline CPI outturn 'feels' much less problematic than 2.8% and certainly presents a more favourable backdrop for Mark Carney should he be inclined to push for more aggressive 'monetary activism'”, assessed Ross Walker, Strategist at RBS.
The cross is now losing 0.64% en 1.5157 and a violation of 1.5128 (61.8% of 1.4832-1.5607) would bring 1.5034 (low Apr.4).
On the upside, resistance levels align at 1.5281 (high May 20) followed by 1.5298 (MA10d) and then 1.5331 (high May 14).