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May 31, 2013
GBP/USD awaits UK mortgage approvals
FXstreet.com (London) - GBP/USD is relatively quiet at 1.5212/30 in the European session. This is ahead of a bigger week next week data wise.
However, today it awaits releases in UK mortgage approvals coming up at 09.30 BST. The market is looking for 54.500k in April approvals to stimulate the overall UK economy.The BOE next week is going to be gaining further focus with the recent drop off in CPI. There is speculation that the chances of easing have now increased. Next weeks PMIs will be in focus as well.
Intra-day 1.5200 is the first level that should hold on a light economic calendar, before 1.5245 while 1.5100-15 is first support before 1.4995. The Broader trend is to the downside on the charts beneath 1.5770 targeting last summer lows, 1.4250 zones.
However, today it awaits releases in UK mortgage approvals coming up at 09.30 BST. The market is looking for 54.500k in April approvals to stimulate the overall UK economy.The BOE next week is going to be gaining further focus with the recent drop off in CPI. There is speculation that the chances of easing have now increased. Next weeks PMIs will be in focus as well.
Intra-day 1.5200 is the first level that should hold on a light economic calendar, before 1.5245 while 1.5100-15 is first support before 1.4995. The Broader trend is to the downside on the charts beneath 1.5770 targeting last summer lows, 1.4250 zones.