Back
14 Apr 2015
GBP/USD drops to lows on CPI
FXStreet (Edinburgh) - The sterling is now losing the grip vs. the US dollar, sending GBP/USD to visit the area of session lows around 1.4620.
GBP/USD weaker after UK CPI
The pair is intensifying the decline after consumer prices in the British economy came in on the softer side during March. In fact, headline CPI came in flat over the last twelve months, while the Core reading rose at an annual pace of 1.0% vs. 1.2% forecasted and previous. On a monthly basis, headline prices rose 0.2% vs. February’s 0.3%.
GBP/USD levels to watch
As of writing the pair is down 0.41% at 1.4615 with the immediate support at 1.4600 (psychological level) 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 weaker after UK CPI
The pair is intensifying the decline after consumer prices in the British economy came in on the softer side during March. In fact, headline CPI came in flat over the last twelve months, while the Core reading rose at an annual pace of 1.0% vs. 1.2% forecasted and previous. On a monthly basis, headline prices rose 0.2% vs. February’s 0.3%.
GBP/USD levels to watch
As of writing the pair is down 0.41% at 1.4615 with the immediate support at 1.4600 (psychological level) 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).