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18 Apr 2013
Forex: GBP/USD in highs around 1.5270
FXstreet.com (Barcelona) - The pound has recovered the ground lost after the tepid data from the UK retail sales on Thursday, testing fresh session highs in the vicinity of 1.5265/70.
“The MPC retains its dovish bias and May’s meeting, coinciding with the next Inflation Report, appears to be a very close call. On balance, we stick with our forecast for no change in QE… Our GDP forecasts have been trimmed to 0.7% in 2013 (0.9% previously) and 1.4% in 2014 (from 1.5%)”, assessed Ross Walker, Analyst at RBS.
GBP/USD is now up 0.20% at 1.5271 with the next resistance at 1.5370 (high Apr.17) followed by 1.5386 (high Apr.15) and then 1.5409 (high Apr.12).
On the downside, a breach of 1.5217 (low Apr.17) would then target 1.5199 (low Apr.5) and finally 1.5034 (low Apr.4).
“The MPC retains its dovish bias and May’s meeting, coinciding with the next Inflation Report, appears to be a very close call. On balance, we stick with our forecast for no change in QE… Our GDP forecasts have been trimmed to 0.7% in 2013 (0.9% previously) and 1.4% in 2014 (from 1.5%)”, assessed Ross Walker, Analyst at RBS.
GBP/USD is now up 0.20% at 1.5271 with the next resistance at 1.5370 (high Apr.17) followed by 1.5386 (high Apr.15) and then 1.5409 (high Apr.12).
On the downside, a breach of 1.5217 (low Apr.17) would then target 1.5199 (low Apr.5) and finally 1.5034 (low Apr.4).