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Forex pairs in this Article » GBP/USD
FXStreet (Guatemala) - GBP/USD has been 5 pips away from claiming a new handle on the strength of Sterling and BoE’s upgrade of growth forecasts.

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained ,"The big event today is the BOE's Quarterly Inflation Report and the updated economic assessment and forward guidance. We noted yesterday that the implied yield of the March 2015 short-sterling had fallen by about 30 bp since January 23 as the market priced in Carney's push back against early tightening expectations. While Carney continues to argue against the need for an early rate hike, the BOE boosted this year's growth forecast to 3.4% from 2.8% (in November) and lifted its 2015 forecast to 2.7% from 2.3%."
RSI (14) now reads 73.01 and signifies the momentum on this one is stalling. We may require a bout of Asian bulls to come to the table to see this through the handle or indeed some disappointments form tomorrow’s jobless numbers and retail sales from the US.


The 20 DMA is 1.6446, the 50 DMA is 1.6421 and the 200 DMA is 1.5849.
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