FXStreet – The cops ran to the 1,2950 in a resistor, after the UK CPI report was released and fell to the GBP/USD to the Monday low of 1,2872 to test. The emerging commandments were the rates back in the direction of 1.29 to rise.
GBP/USD suffers from a decline in the BoE rate hike speculation
The Pair reached directly with the release of the UK CPI, the 1,2946, and then it fell in the loss, as the market valued the rising UK consumer prices and their impact on the next monetary policy movement of the BoE.
The US Dollar Index, which represents the strength of the USD vs. its 6 most important rivals, recovered from his new year from deep in the field of 98,36, and now the trade will take place with a daily loss -0,31% 98,50.
The mixed Performance of the European stock charged to the riskier currencies such as the GBP. From the UK expect us today is no more data and so the focus is on the US Baubeginnen, building permits and industrial production, what is the impact on the GBP/USD.
• GBP/USD rank trade between 1,2830 and 1,3000 is likely – UOB
GBP/USD to test levels
About 1,2922 (10-day MA), the next Resistances at 1,2961 (High-9. May) and 1,2990 (7-week high). On the other hand, supports are located at 1,2872 (Tief 15. May), 1,2842/29 (Deep 12./4. May) and 1,2800 (psychological level).
** FXStreet News Editorial, FXStreet**