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17 Dec 2013
GBP/USD back above 163.00
FXstreet.com (Córdoba) - The GBP/USD remains since the second half of the American session moving in a small range between 1.6285 and 1.6315. Recently rose back above 163.00, getting closer to the 1.6315 level. Above attention could turn to Monday's highs that lie at 163.50 while under 1.6285, the next support might be located at last week lows at 1.6260.
On the first day on the week the GBP/USD was able to end practically unchanged from Friday's closing price, after falling in the previous three trading days, when it fell from 1.6440, bottoming at 1.6260.
Important data ahead
On Tuesday, there will be new data on inflation (consumer and producer) and on Wednesday the calendar will be heavier with the employment report and the minutes of the Bank of England. Economic reports of the United Kingdom will continue on Thursday with retail sales numbers.
">Kathy Lien, Managing Partner of BKForex affirms: “Although the annualized pace of CPI growth exceeds the central bank's 2% target, inflation is not a major problem for the central bank. The other reports this week should have a more significant impact on sterling than tomorrow's (for Tuesday) CPI and PPI numbers”.
On the first day on the week the GBP/USD was able to end practically unchanged from Friday's closing price, after falling in the previous three trading days, when it fell from 1.6440, bottoming at 1.6260.
Important data ahead
On Tuesday, there will be new data on inflation (consumer and producer) and on Wednesday the calendar will be heavier with the employment report and the minutes of the Bank of England. Economic reports of the United Kingdom will continue on Thursday with retail sales numbers.
">Kathy Lien, Managing Partner of BKForex affirms: “Although the annualized pace of CPI growth exceeds the central bank's 2% target, inflation is not a major problem for the central bank. The other reports this week should have a more significant impact on sterling than tomorrow's (for Tuesday) CPI and PPI numbers”.