{"id":81235,"date":"2015-11-18T06:36:38","date_gmt":"2015-11-18T11:36:38","guid":{"rendered":"http:\/\/countingpips.com\/?p=81235"},"modified":"2015-11-18T07:06:01","modified_gmt":"2015-11-18T12:06:01","slug":"sterling-remains-buoyed-following-broadbent-comments-on-inflation","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/11\/sterling-remains-buoyed-following-broadbent-comments-on-inflation\/","title":{"rendered":"Sterling Remains Buoyed Following Broadbent Comments on Inflation"},"content":{"rendered":"
November 18, 2015<\/div>
\r\n<\/div><\/div>

Article by ForexTime<\/a><\/p>\n

Sterling moved higher in response to remarks from The Bank of England\u2019s MPC member Broadbent, who prompted market participants to re-consider what he appeared to imply were overly dovish interpretations of the BoE\u2019s November Inflation Report. Broadbent said that \u201cyou should push them too far\u201d with regard to the \u201cinferences\u201d of the central bank\u2019s forecast on the market yield curve.<\/p>\n

Markets had been focusing on the Inflation Report\u2019s forecast that inflation wouldn\u2019t breach target even if interest rates remained unchanged throughout 2016. Cable lifted to a peak of 1.5249, having traded at 1.5201 bid before Broadbent\u2019s comments hit the wires.<\/p>\n

The pound should hold its own against the greenback, the BoE appears to be close to tightening and interest rate differentials should remain close the U.S. ahead of next month\u2019s FOMC decision on interest rates.<\/p>\n

GBP\/USD edged higher and is poised to test downward sloping trend line resistance that connects the highs in August to the highs in October and comes in near 1.54.\u00a0 Support is seen near the 10-day moving average at 1.5182, and then a horizontal trend line at the lows of November near 1.5026.\u00a0 Momentum is non-existent, with the MACD printing near the zero index level, with a flat trajectory.\u00a0 The RSI (relative strength index) is printing a reading of 45, which is in the middle of the neutral range reflecting consolidation.<\/p>\n

\"gbp-111815\"<\/a><\/p>\n

 <\/p>\n

\n

\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t 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>

\r\n
\r\n
\r\n

<\/a>\r\n\t 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>

\r\n<\/div>\r\n

\r\n
<\/div>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Article by ForexTime Sterling moved higher in response to remarks from The Bank of England\u2019s MPC member Broadbent, who prompted market participants to re-consider what he appeared to imply were overly dovish interpretations of the BoE\u2019s November Inflation Report. Broadbent said that \u201cyou should push them too far\u201d with regard to the \u201cinferences\u201d of the […]<\/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-81235","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/81235","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=81235"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/81235\/revisions"}],"predecessor-version":[{"id":81237,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/81235\/revisions\/81237"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=81235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=81235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=81235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}