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GBP/USD muted post-UK data

FXStreet (Edinburgh) - The pound remained unchanged after the CPI releases in the British economy, with GBP/USD gyrating around 1.5660/70.

GBP/USD keeps the range

Spot is looking to break above the consolidative pattern around 1.5660 after consumer prices in the UK economy matched estimates in October, rising at an annual pace of 1.3% and 0.1% inter-month. Core prices gained 1.5% over the last twelve months, a tad lower than the forecasted raise of 1.6%. There are no further data in the UK today, with the next event risk being the BoE minutes due tomorrow.

GBP/USD levels to watch

As of writing the pair is up 0.14% at 1.5662 and a surpass of 1.5737 (high Nov.17) would expose 1.5780 (high Nov.13) and finally 1.5791 (low Nov.7). On the downside, a breach of 1.5620 (low Nov.17) would open the door to 1.5593 (low Nov.13) and then 1.5564 (low Sep.6 2013).

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