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Forex: GBP/USD in red after UK CPI

FXstreet.com (Barcelona) - The pound remains below the key level at 1.5300 on Tuesday, after the consumer prices in the British economy during March rose 2.8% over the last twelve month and 0.3% on a monthly basis. The Core CPI rose 2.4% YoY vs. the median at 2.3%.

“The BoE’s new remit explicitly gives the MPC greater flexibility to run looser monetary policy to support growth while tolerating an inflation overshoot for longer. If the economic recovery continues to prove disappointing then more QE is likely from the BoE later in 2013 weighing upon the pound”, commented Lee Hardman, Currency Analyst at BTMU.

GBP/USD is now losing 0.02% at 1.5281 and a dip beyond 1.5251 (low Apr.9) would aim for 1.5239 (low Apr.8) and finally 1.5225 (MA21d).
On the flip side, resistance levels line up at 1.5386 (high Apr.15) followed by 1.5409 (high Apr.12) and then 1.5412 (high Apr.11).

Forex: EUR/GBP rises after UK prices and ahead of EMU CPI

The EUR/GBP eased on the European opening to 0.8524 low and retraced its early gains limited to 0.8545 area. The publication of UK prices data is allowing a move higher, currently at 0.8540.
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