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13 Feb 2013
Forex: GBP/USD hovering over 1.5650 , BoE eyed
The pound is orbiting around the mid 1.5600s ahead of the Letter of Inflation by the BoE, followed by a speech by Governor M.King.
The sterling recovered ground after hitting lows last seen in August 2012 around 1.5555/60 on Tuesday, prolonging the decline from January tops in the boundaries of 1.6400
At the moment, the cross is losing 0.11% at 1.5646 with the next support lying at 1.5547 (low Aug.6 2012) followed by 1.5546 (Lower Bollinger) en route to 1.5506 (low Aug.3).
On the flip side, a dip beyond 1.5670 (high Feb.12) would expose 1.5725 (MA10d) and then 1.5810 (high Feb.11).
The sterling recovered ground after hitting lows last seen in August 2012 around 1.5555/60 on Tuesday, prolonging the decline from January tops in the boundaries of 1.6400
At the moment, the cross is losing 0.11% at 1.5646 with the next support lying at 1.5547 (low Aug.6 2012) followed by 1.5546 (Lower Bollinger) en route to 1.5506 (low Aug.3).
On the flip side, a dip beyond 1.5670 (high Feb.12) would expose 1.5725 (MA10d) and then 1.5810 (high Feb.11).