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FXstreet.com (Sydney) - The GBP has not had major changes from yesterday's level and is currently trading at 1.5669. The pair has traded within a narrow range after opening on 1.5658 and setting an intraday high of 1.5671. The pair currently finds support at 1.5615, resistance is at 1.5699 and is considered slightly bullish.
While housing prices were reported to have increased by 3.2% yesterday, this was due to a shortage of sellers than to underlying economic conditions. There are other reports of relevance due out including CPI figures. Analysts forecast an increase of 3.5% which would be a 15 month high. The BOE is however, unlikely to change its view that this sharp rise is temporary and arguing that inflation is under control.
Forex: GBP/USD mixed and trading at 1.5669
Posted 2/15/2010 6:15 PM ET by from FXstreet.com
While housing prices were reported to have increased by 3.2% yesterday, this was due to a shortage of sellers than to underlying economic conditions. There are other reports of relevance due out including CPI figures. Analysts forecast an increase of 3.5% which would be a 15 month high. The BOE is however, unlikely to change its view that this sharp rise is temporary and arguing that inflation is under control.
