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GBP/USD around 1.4500 after UK CPI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The British pound keeps its gains vs. the dollar on Tuesday, with GBP/USD gyrating around the 1.4500 handle.

    GBP/USD remains firm post-UK data

    Spot keeps the area of session highs after headline consumer prices in the UK have risen 0.3% on a year to January, matching estimates. Core Prices have gained 1.2% on an annualized basis, missing forecasts at 1.3% and lower than December’s 1.4% advance.

    The pair has managed to revert the initial negative tone, staging a strong comeback from the vicinity of the key support at the 1.4400 handle.

    GBP/USD levels to consider

    As of writing the pair is up 0.40% at 1.4492 with the next hurdle at 1.4558 (55-day sma) followed by 1.4670 (high Feb.4) and finally 1.4796 (61.8% Fibo of 1.5240-1.4079). On the other hand, a break below 1.4353 (23.6% Fibo of 1.5240-1.4079) would aim for 1.4171 (low Jan.26) and then 1.4147 (low Jan.29).
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