18 May 2015
GBP/USD hits fresh daily lows
FXStreet (Córdoba) - GBP/USD printed a new daily low during the American session at 1.5635 reaching the lowest level since last Wednesday.
The pair has been moving all day with a bearish bias and so far it was able to find support above May 13 lows that lie at 1.5630. A break lower could open the doors for an extension of the delcie toward 1.5600.
Greenback started the week on a positive tone across the board, while the pound, despite falling against the US dollar, outperformed its European rivals.
Inflation and minutes coming
Central bank minutes and inflation data is coming during the next day from the UK and the US. Tomorrow CPI data for the UK will be release while on Friday it will be the turn of the US inflation numbers. On Wednesday, the Bank of England and then the Federal Reserve will release the minutes of their latest meeting and traders will look into the documents for clues about the perspective of the monetary policy.
The pair has been moving all day with a bearish bias and so far it was able to find support above May 13 lows that lie at 1.5630. A break lower could open the doors for an extension of the delcie toward 1.5600.
Greenback started the week on a positive tone across the board, while the pound, despite falling against the US dollar, outperformed its European rivals.
Inflation and minutes coming
Central bank minutes and inflation data is coming during the next day from the UK and the US. Tomorrow CPI data for the UK will be release while on Friday it will be the turn of the US inflation numbers. On Wednesday, the Bank of England and then the Federal Reserve will release the minutes of their latest meeting and traders will look into the documents for clues about the perspective of the monetary policy.