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Alert - 15:10 (CET) - Sterling advances against the US Dollar
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Even thought the consumer prices suffered a new contraction on November in the UK, the interanual level is still above the BoE's target at 3%, at 4.1%.
Meanwhile, the US consumer prices hit an historical low, falling 1.7% last month, just before the Fed rate decision today at 20:15 (CET). This has renewed the appetite for the Sterling against the Dollar, allowing it to rebound over 1.5300.
The GbpUsd is trading at 1.5360 Dollars per Pound. This session, the pair is ranging from 1.5204 to 1.5379, over yesterday's close at 1.5306. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The traders are watching the supports at 1.4500 (key) and 1.4346 (April 19th 2002 low). The resistance at 1.5000 (key) was broken, so the traders have their eyes on 1.5534 (November 25th high) and 1.6000 (key).
Checking the daily graphics, the current price is over the 23.60% (1.3701) and under the 38.20% (1.5767) Fibonacci retracement lines. The average volatility per hour is 150 pips and the 60-minute Relative Strenght Index (RSI) is at 64 points, rebounding from the overbought area.
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