The Pound advanced against its major counterparts in Tuesdays
2018-02-13 12:05 pm | Resource: NEWS | No Views : 89
The British pound rose against its major counterparts in the European session on Tuesday, as UK inflation improved more than expected in January, bolstering expectations for a BoE rate hike in May, and the National Bureau of Statistics data showed inflation hit 3 percent In January, compared with 2.9 percent reported by economists, and the rate did not change from the previous month.
Core inflation, which excludes energy, food, alcohol and tobacco, rose by 2.7% to 2.5%. The rate was also above expectations of 2.6%. On a monthly basis, consumer prices fell 0.5% from expectations of a 0.6% decline. Separate data that inflation in British home prices slightly accelerated in December, after falling the previous month.
The housing price index rose 5.2% year-on-year in December, faster than the 5.0% increase in November, which was revised from 5.1% earlier, and the pound fell against its main rivals in the Asian session, excluding the US dollar.
The British pound rose to a 4-day high of 1.3913 against the US dollar, from a low of 1.3832 at 8:15 pm EDT. The Pound is ready to challenge the resistance around 1.43, and after hitting a 4-day low against the Franc at 1.2937 at 3:00 am GMT, the Sterling declined to 1.3012, and the next major resistance is likely to show around the 1.32 area.
After falling to a 6-day low of 0.8897 against the euro at 2:00 am GMT, the pound rebounded at 0.8858, and if the pound rises, 0.86 is the next resistance level, and the pound regained some of its losses against the yen as the pair traded at 149.65. Earlier, the pound traded a 4-day low of 148.98 against the Japanese currency. On the upside, 153.00 may be seen as the next resistance to the pound.
Time frame Used - four hours The USDJPY is moving in a bearish direction in the near term The USDJPY was able to control the USDJPY move to the support level of 109.49, forming a double bottom In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area Accordingly, we expect that the USDJPY will test levels…
- GBPUSD Technical analysis 24 May 2018 01:29 am2018-05-24
- EURUSD Technical analysis 24 May 2018 01:21 am2018-05-24
- USDJPY Technical analysis 23 May 2018 12:09 am2018-05-23
- GBPUSD Technical analysis 23 May 2018 12:07 am2018-05-23
- EURUSD Technical analysis 23 May 2018 12:04 am2018-05-23
- USDJPY Technical analysis 22 May 2018 12:53 am2018-05-22
- GBPUSD Technical analysis 22 May 2018 12:38 am2018-05-22
- EURUSD Technical analysis 22 May 2018 12:17 am2018-05-22
- USDJPY Technical analysis 21 May 2018 11:00 pm2018-05-20
Best trading brokers
- commodities Fundamental analysis aaab 2017-08-13
- Euro zone manufacturing PMI widen in June, EUR /USD Slip’s 2017-07-03
- Bitcoin burglars succeed in stealing 140,000 dollars of encrypted currency 2017-11-07
- job growth slowed by much more than anticipated in the month of March 2018-04-06
- Chairman Gaincarlo just made the most bullish statements in front of the Congress 2018-02-06
- Dogecoin .. Electronic currency arose as a result of irony 03:54 pm 2018-01-26
- Currency and commodity analysis for 2018 05:14 pm 2018-01-01
- Bitcoin forces Santa Claus to distribute the worst gifts to its investors on Christmas 10:04 am 2017-12-25
- Forex 09:26 am 2017-12-25
- OmiseGo .. Time for electronic financial exchanges 02:07 pm 2017-11-15