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27 Feb 2013
Forex: GBP/USD easing from 1.5140 zone
The GBP/USD is finding hard to rise above the 1.5140 area despite the continuing attempt since early in the London morning and the quick spike to 1.5164. As of writing, the pair moves down, already at 1.5120.
UK data is out. Annualized UK 2012 Q4 GDP growth was revised higher from 0.0% to +0.3% but the quarterly figure came in at -0.3% as forecasted. Total Business Investment contracted -1.2% (QoQ), easing from 5.4% to 0.4% (YoY). Worthy of note is BoE's Bean comment on his sensivity to review UK inflation target.
“An hourly support is at 1.5073. Another support is given by the psychological level at 1.5000”, wrote MIG Bank analyst Bijoy Kar, pointing to hourly resistances at 1.5219 (26/02/2013 high) and 1.5321 (22/02/2013 high).
UK data is out. Annualized UK 2012 Q4 GDP growth was revised higher from 0.0% to +0.3% but the quarterly figure came in at -0.3% as forecasted. Total Business Investment contracted -1.2% (QoQ), easing from 5.4% to 0.4% (YoY). Worthy of note is BoE's Bean comment on his sensivity to review UK inflation target.
“An hourly support is at 1.5073. Another support is given by the psychological level at 1.5000”, wrote MIG Bank analyst Bijoy Kar, pointing to hourly resistances at 1.5219 (26/02/2013 high) and 1.5321 (22/02/2013 high).