British Pound (GBP), Daily Review, Feb 17 2010

By IBTimes Staff Reporter | February 17 2010 4:41 AM

The GBP has made big gains against the Dollar and has consolidated above 1.5720. The CPI came out 3.5% worse than expected 3.6% and the Core CPI came out 3.1% also worse than expected 3.2%. If the GBP sustains above the 1.5720 level, it might extend its uptrend to the 1.5920 area. Overall, GBP/USD traded with a low of 1.5626 and with a high of 1.5793. Today, The Claimant Count Change is expected at -15K vs. -15.2K previously .The Average Earnings Index is expected at 1.2% vs. 1.6% previously and later MPC Meeting Minutes is expected.

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GBP/USD - Last: 1.5772

Resistance

1.5810

1.5850

1.5875

Support

1.5725

1.5665

1.5625

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