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20 Mar 2013
Forex: GBP/USD flat around 1.5100, UK Budget, BoE eyed
FXstreet.com (Barcelona) - Big day for the sterling ahead as the BoE will release its minutes from the last meeting, with market participants focusing on the voting pattern in light of last week’s comments by Governor M.King.
When the minutes have passed, the next tough hurdle for GBP would be the UK Budget. Investor would closely follow the statement by Chancellor G.Osbourne, as he could announce changes in the BoE remit.
GBP/USD is now up 0.01% with the next resistance at 1.5160 (high Mar.18) ahead of 1.5177 (high Mar.15) and then 1.5200 (high Mar.5).
On the flip side, a breach of 1.5072 (low Mar.18) would open the door to 1.5011 (MA10d) and finally 1.4965 (low Mar.17).
When the minutes have passed, the next tough hurdle for GBP would be the UK Budget. Investor would closely follow the statement by Chancellor G.Osbourne, as he could announce changes in the BoE remit.
GBP/USD is now up 0.01% with the next resistance at 1.5160 (high Mar.18) ahead of 1.5177 (high Mar.15) and then 1.5200 (high Mar.5).
On the flip side, a breach of 1.5072 (low Mar.18) would open the door to 1.5011 (MA10d) and finally 1.4965 (low Mar.17).