{"id":77023,"date":"2015-08-18T06:46:22","date_gmt":"2015-08-18T10:46:22","guid":{"rendered":"http:\/\/countingpips.com\/?p=77023"},"modified":"2015-08-18T06:58:53","modified_gmt":"2015-08-18T10:58:53","slug":"sterling-pops-above-resistance-following-hotter-than-expected-inflation-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/08\/sterling-pops-above-resistance-following-hotter-than-expected-inflation-data\/","title":{"rendered":"Sterling Pops Above Resistance Following Hotter than expected Inflation Data"},"content":{"rendered":"<div id=\"inves-2397112038\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 18, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>Sterling moved higher pushing above trend line resistance after the UK reported that July CPI data came in hotter than expected.\u00a0 The +0.1% year over year in the headline, which was up from 0.0% in June was above the average estimate of a flat reading.<\/p>\n<p>What pushed the currency pair higher was that the core reading on the consumer price index moved higher by 1.2% y\/y compared to 0.8% last month which was the expectation for July. \u00a0The increase in underlying inflation excluding food and energy was generated by a year over year price decline in clothing prices coming in less than a year ago. Prices at the wholesale level also came in stronger than expected at -12.4% year over year from -13.1% in June.<\/p>\n<p>The GBP\/USD pushed above horizontal trend line resistance at 1.5690, and is poised to test the June highs near 1.59.\u00a0 Interest rate differentials moved in favor of the pound, and Monday\u2019s softer than expected release of the Empire Manufacturing survey did not do the greenback any favors.<\/p>\n<p>Momentum on the currency pair has turned positive as the MACD (moving average convergence divergence) index generated a buy signal.\u00a0 This occurs as the spread (the 12-day moving average minus the 26-day moving average) crosses above the 9-day moving average of the spread. The index moved from negative to positive territory confirming the buy signal.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/gbp-081815.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-8733\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/gbp-081815-300x196.jpg\" alt=\"gbp-081815\" width=\"300\" height=\"196\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p><div id=\"inves-3927980210\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime Sterling moved higher pushing above trend line resistance after the UK reported that July CPI data came in hotter than expected.\u00a0 The +0.1% year over year in the headline, which was up from 0.0% in June was above the average estimate of a flat reading. What pushed the currency pair higher was [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77023","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=77023"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77023\/revisions"}],"predecessor-version":[{"id":77026,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77023\/revisions\/77026"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=77023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=77023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=77023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}