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Forex: Sterling sighting testing lows 1.5200 after Kings report

FXstreet.com (London) - Sterling has traded in a range of 80 pips throughout this monrings European sessions. It was openeing on April lows this morning as the dollar was broadly stronger and recoverd sharply to 1.5230, positoned before data releases in an unexpectldy better employment report for the UK. Cable touched 1.5260 on the back of this news only to fill more offers before the inflation report where expectations have met and inflation has been revised lower, but remaining over a sticky 2% for the forthcoming couple of years. The pair had been ticking higher with a cautiose optimism from King, although has now reveresed yet again back to test the downside the figure,1.5200 and lows 1.5192 support is seen 1.5170 and 1.5150. The Charts are looking strongly bearish below moving averages.

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