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21 Mar 2013
Forex: GBP/USD consolidates gains below 1.5200
FXstreet.com (Barcelona) - The sterling keeps the positive mood despite investors’ preference for safer assets on Thursday, hovering over the area of 1.5170/75 after hitting weekly highs above 1.5200 on solid data from UK retail sales.
“The Chancellor’s update to the BoE’s policy remit in the Budget yesterday reinforced its shift to more flexible inflation targeting with more explicit forward guidance under new Governor Carney more likely than a more aggressive shift to a nominal GDP target”, assessed Currency Analyst Lee Hardman at BTMU.
As of writing GBP/USD is up 0.48% at 1.5175 and a surpass of 1.5223 (high Feb.28) would bring 1.5277 (Upper Bollinger) and then 1.5330
On the downside, support levels are located at 1.5090 (hourly low Mar.21) ahead of 1.5083 (MA21d) and then 1.5034 (MA10d).
“The Chancellor’s update to the BoE’s policy remit in the Budget yesterday reinforced its shift to more flexible inflation targeting with more explicit forward guidance under new Governor Carney more likely than a more aggressive shift to a nominal GDP target”, assessed Currency Analyst Lee Hardman at BTMU.
As of writing GBP/USD is up 0.48% at 1.5175 and a surpass of 1.5223 (high Feb.28) would bring 1.5277 (Upper Bollinger) and then 1.5330
On the downside, support levels are located at 1.5090 (hourly low Mar.21) ahead of 1.5083 (MA21d) and then 1.5034 (MA10d).