12 Nov 2013
GBP/USD breached 1.5900 on data
FXstreet.com (Edinburgh) -The sterling is now rapidly depreciating against the greenback, dragging the GBP/USD to fresh lows near 1.5850.
GBP/USD hurt by low CPI
The inflation figures in the British economy surprised investors in October, with Core prices rising at an annual pace of ‘only’ 0.9% vs. 2.0% expected while the headline CPI rose 2.2% over the last twelve months, vs. 2.5% forecasted and September’s 2.7%. Further data also showed that consumer prices advanced 0.1% inter-month and House Prices gauged by the DCLG index gained 3.8%, matching the previous print although missing the median at 4.1%.
GBP/USD key levels
As of writing the pair is losing 0.81% at 1.5865 with the next support at 1.5800 (psychological level) ahead of 1.5716 (high Aug.21). On the flip side, a surpass of 1.5992 (high Nov.12) would bring 1.6011 (MA10d) and then 1.6064 (MA30d).
GBP/USD hurt by low CPI
The inflation figures in the British economy surprised investors in October, with Core prices rising at an annual pace of ‘only’ 0.9% vs. 2.0% expected while the headline CPI rose 2.2% over the last twelve months, vs. 2.5% forecasted and September’s 2.7%. Further data also showed that consumer prices advanced 0.1% inter-month and House Prices gauged by the DCLG index gained 3.8%, matching the previous print although missing the median at 4.1%.
GBP/USD key levels
As of writing the pair is losing 0.81% at 1.5865 with the next support at 1.5800 (psychological level) ahead of 1.5716 (high Aug.21). On the flip side, a surpass of 1.5992 (high Nov.12) would bring 1.6011 (MA10d) and then 1.6064 (MA30d).