16 Jun 2015
GBP/USD clinging to 1.5600
FXStreet (Edinburgh) - The sterling is trading in a tight range vs. the greenback on Tuesday, with GBP/USD gyrating around the 1.5600 handle.
GBP/USD attention to inflation figures
The pair is extending the overnight pattern into the European session, trading in the upper bound of the recent range ahead of the critical CPI releases in the UK economy. Market consensus sees headline consumer prices rising 0.1% on a year to May while Core prices are expected at an annualized pace of 1.0%.
In the meantime, Greek headlines continue to be the main source of volatility in the global markets and the exclusive driver of risk appetite trends.
GBP/USD levels to watch
As of writing the pair is advancing 0.08% at 1.5615 with the initial hurdle at 1.5663 (76.4% of 1.5815-1.5170) followed by 1.5700 (high May 21) and then 1.5745 (high May 18). On the other hand, a breakdown of 1.5587 (low Jun.16) would expose 1.5488 (low Jun.15) and then 1.5468 (low Jun.12).
GBP/USD attention to inflation figures
The pair is extending the overnight pattern into the European session, trading in the upper bound of the recent range ahead of the critical CPI releases in the UK economy. Market consensus sees headline consumer prices rising 0.1% on a year to May while Core prices are expected at an annualized pace of 1.0%.
In the meantime, Greek headlines continue to be the main source of volatility in the global markets and the exclusive driver of risk appetite trends.
GBP/USD levels to watch
As of writing the pair is advancing 0.08% at 1.5615 with the initial hurdle at 1.5663 (76.4% of 1.5815-1.5170) followed by 1.5700 (high May 21) and then 1.5745 (high May 18). On the other hand, a breakdown of 1.5587 (low Jun.16) would expose 1.5488 (low Jun.15) and then 1.5468 (low Jun.12).