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6 Aug 2015
GBP/USD around 1.5620 on BoE’s ‘Super Thursday’
FXStreet (Edinburgh) - The sterling is posting decent gains vs. the greenback today, taking GBP/USD to a consolidative pattern around 1.5620/25.
GBP/USD attention to UK data, BoE
The pair is meandering the low-1.5600s during the European morning so far while markets are warming up for the key events in the UK economy due later. Market participants will closely follow the BoE minutes looking for any dissent in the voting pattern, in light of the recent hawkish tone seen in MPC members and against the backdrop of increasing expectations of a BoE’s rate hike sooner than anticipated.
In addition, the BoE’s Quarterly Inflation Report will bring in fresh views of the central bank on inflation and growth projections. Furthermore, Industrial and Manufacturing Production results will give a gauge of the health in the sector.
GBP/USD levels to watch
At the moment the pair is advancing 0.12% at 1.5621 facing the next hurdle at 1.5639 (high Aug.6) ahead of 1.5690 (high Jul.29) and finally 1.5734 (high Jul.1). On the flip side, a breakdown of 1.5535 (low Aug.5) would open the door to 1.5490 (low Jul.27) and then 1.5467 (low Jul.244).
GBP/USD attention to UK data, BoE
The pair is meandering the low-1.5600s during the European morning so far while markets are warming up for the key events in the UK economy due later. Market participants will closely follow the BoE minutes looking for any dissent in the voting pattern, in light of the recent hawkish tone seen in MPC members and against the backdrop of increasing expectations of a BoE’s rate hike sooner than anticipated.
In addition, the BoE’s Quarterly Inflation Report will bring in fresh views of the central bank on inflation and growth projections. Furthermore, Industrial and Manufacturing Production results will give a gauge of the health in the sector.
GBP/USD levels to watch
At the moment the pair is advancing 0.12% at 1.5621 facing the next hurdle at 1.5639 (high Aug.6) ahead of 1.5690 (high Jul.29) and finally 1.5734 (high Jul.1). On the flip side, a breakdown of 1.5535 (low Aug.5) would open the door to 1.5490 (low Jul.27) and then 1.5467 (low Jul.244).