Forex: GBP/USD back around 1.5500

FXstreet.com (Barcelona) - The sterling regained the region of 1.5490/1.5500 on Tuesday after the Mortgage Approvals increased by 53.5k during March, surpassing both the median and previous prints at 52.5K and 51.9K, respectively. Further UK results showed a 0.9% annual contraction of the M4 Money Supply and a monthly drop to £0.9 billion of Net Lending to Individuals from £1.5 billion. Consumer credit remained at £0.5 billion.

As of writing, the cross is down 0.02% at 1.5496 and a break below 1.5476 (low Apr.29) would open the door to 1.5418 (low Apr.26) and then 1.5334 (MA10d).
On the flip side, resistance levels align at 1.5544 (high Feb.14) would open the door to 1.5547 (high Apr.29) and finally 1.5550 (high Feb.15).

Apr 30, 2013

UK: M4 Money Supply falls in March against expectations

The UK M4 Money Supply decreased 0.9% in March, following a 0.5% drop in February, according to the BoE official data. Analysts expected a 0.4% increase.

Forex Flash: European data mutes GBP - Investec

Investec Treasury analysts note that news from a the European front this morning was that the GfK consumer confidence index slipped back to -27 in April, having been stuck at -26 for the previous three months, which was also the expectation for April’s reading.