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29 May 2013
GBP/USD bouncing to 1.5045/50
FXstreet.com (Barcelona) - The sterling is following its European counterpart on Wednesday, attempting a rebound to the area of 1.5045/50.
“While softer inflation may have increased easing expectations from the BoE relative to other central banks, global factors, most notably stronger expectations the Fed may taper asset purchases, have seen expectations for BoE easing also become reined in a little”, commented Melinda Burgess and Nick Mannion, Strategists at RBS.
As of writing GBP/USD is flat at 1.5041 with the next resistance at 1.5129 (MA10d) ahead of 1.5134 (high May 28) and then 1.5157 (high May 27). On the flip side, a breakdown of 1.4915 (low Mar.14) would open the door to 1.4892 (low Mar.13) and finally 1.4832 (low Mar.12).
“While softer inflation may have increased easing expectations from the BoE relative to other central banks, global factors, most notably stronger expectations the Fed may taper asset purchases, have seen expectations for BoE easing also become reined in a little”, commented Melinda Burgess and Nick Mannion, Strategists at RBS.
As of writing GBP/USD is flat at 1.5041 with the next resistance at 1.5129 (MA10d) ahead of 1.5134 (high May 28) and then 1.5157 (high May 27). On the flip side, a breakdown of 1.4915 (low Mar.14) would open the door to 1.4892 (low Mar.13) and finally 1.4832 (low Mar.12).