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15 Mar 2013
Forex: GBP/USD up to 1.5168 high after UK CB data
FXstreet.com (Barcelona) - The GBP/USD surpassed the first London morning upside barrier at 1.5144 and rose to 1.5168 high after the release of UK CB Leading Economic index. February data rose from 0.1% to 0.4%. Ahead is BoE and MPC member Dale's speech at 11:00 GMT.
EMU CPI rose 0.4% as expected in February, retracing part of the -1.0% drop, with annualized data easing from 2.0% to 1.8%, also in line with consensus. Core data stayed at 1.3% (YoY). Labor cost eased from 1.8% (revised from 2.0%) to 1.3% in Q4.
“Yesterday's break above 1.4980 resistance signaled, that a bottom is in place at 1.4830 and the outlook here is positive above 1.5080 intraday support, for a rise through 1.5200, en route to 1.5330”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to crucial support at 1.4980.
EMU CPI rose 0.4% as expected in February, retracing part of the -1.0% drop, with annualized data easing from 2.0% to 1.8%, also in line with consensus. Core data stayed at 1.3% (YoY). Labor cost eased from 1.8% (revised from 2.0%) to 1.3% in Q4.
“Yesterday's break above 1.4980 resistance signaled, that a bottom is in place at 1.4830 and the outlook here is positive above 1.5080 intraday support, for a rise through 1.5200, en route to 1.5330”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to crucial support at 1.4980.