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14 Apr 2015
GBP/USD found support at 1.4600
FXStreet (Edinburgh) - The pound is now looking to recover the ground lost following the UK CPI figures, pushing GBP/USD again to the 1.4640 area.
GBP/USD coming down from 1.4700
The demand for the sterling remains subdued at the beginning of the week, with the pair finding decent support around the key support at 1.4600 following the CPI releases in the UK economy. Recall that consumer prices in the British economy avoided slipping into deflationary territory in March, coming in flat on a yearly basis while Core prices expanded 1.0% vs. estimates at 1.2%.
Next of significance for the pair will be the US Retail Sales (1.1% exp.) and the Business Optimism Index tracked by NFIB (98.4 exp.).
GBP/USD levels to watch
As of writing the pair is down 0.19% at 1.4647 with the immediate support at 1.4603 (low Apr.14) followed by 1.4567 (2015 low Apr.13) and finally 1.4500 (psychological level). On the upside, a breakout of the psychological handle at 1.4700 would aim for 1.4724 (high Apr.10) and then 1.4740 (low Apr.1).
GBP/USD coming down from 1.4700
The demand for the sterling remains subdued at the beginning of the week, with the pair finding decent support around the key support at 1.4600 following the CPI releases in the UK economy. Recall that consumer prices in the British economy avoided slipping into deflationary territory in March, coming in flat on a yearly basis while Core prices expanded 1.0% vs. estimates at 1.2%.
Next of significance for the pair will be the US Retail Sales (1.1% exp.) and the Business Optimism Index tracked by NFIB (98.4 exp.).
GBP/USD levels to watch
As of writing the pair is down 0.19% at 1.4647 with the immediate support at 1.4603 (low Apr.14) followed by 1.4567 (2015 low Apr.13) and finally 1.4500 (psychological level). On the upside, a breakout of the psychological handle at 1.4700 would aim for 1.4724 (high Apr.10) and then 1.4740 (low Apr.1).