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GBP/USD in lows around 1.5150

FXstreet.com (Barcelona) - The sterling is intensifying its intraday downside on Tuesday, falling to the vicinity of 1.5140 although gaining some pips to the 1.5150 region.

“Is the UK belatedly moving back into the developed economies' inflation mainstream? It is too soon to say for sure, but a 2.4% headline CPI outturn 'feels' much less problematic than 2.8% and certainly presents a more favourable backdrop for Mark Carney should he be inclined to push for more aggressive 'monetary activism'”, assessed Ross Walker, Strategist at RBS.

The cross is now losing 0.64% en 1.5157 and a violation of 1.5128 (61.8% of 1.4832-1.5607) would bring 1.5034 (low Apr.4).
On the upside, resistance levels align at 1.5281 (high May 20) followed by 1.5298 (MA10d) and then 1.5331 (high May 14).

European equity markets in decline Tuesday

The European stock moved lower Tuesday, with many investors coming back from a long holiday weekend. Earlier today in Germany, the Producer Price Index (YoY) came in at +0.1% in April, missing estimates of +0.2%. In addition, the Producer Price Index (MoM) yielded a decline of -0.2%, which exceeded expectations of a -0.1% decline.
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