GBP/USD touched highs of 1.5223 overnight, before pulling back to 1.5168.Sterling remained under pressure after data on Tuesday showed that the annual rate of consumer inflation in the U.K. slowed to 0.5% last month from 1.0% in November.Consumer prices were unchanged from a month earlier, compared to expectations for an uptick of 0.1%.The report said inflation was flat in December due to falling gas and electricity costs. In addition, transport costs fell by 0.2% from a month earlier, due to falling petrol and diesel prices. The slowdown in inflation underlined expectations that the Bank of England will keep interest rates on hold at record lows for most of this year.
INTRADAY OUTLOOK
Support: 1.5142
Resistance: 1.5203
RECOMMENDATION:
1. Buy GBP/USD Above 1.5205-TG: 1.5225/1.5255 SL 1.5175
2. Sell GBP/USD Below 1.5140-TG: 1.5120/1.5090 SL 1.5170
INTRADAY OUTLOOK
Immediate Support: 1.1725
Immediate Resistance: 1.1796
RECOMMENDATION:
1. Buy EUR/USD Above -1.1798 TG: 1.1818/1.1848 SL 1.1768
2. Sell EUR/USD Below -1.1723 TG:1.1703/1.1673 SL 1.1753
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