Forex7 Posted February 7, 2013 Report Share Posted February 7, 2013 (Vibiznews-FX) – The Pound sterling falls against US Dollar today (07/02, 03.38 GMT). The GBP/USD currency pair was opened at 1.5662 in early trading (00:00 GMT), and dipped -16 pips or about -0.10% at 1.5646. The negative sentiment against Pound sterling is seems to be increasing , even as the Office for National Statistics (ONS) is scheduled to report the data of the change in the total inflation-adjusted value of output produced by manufacturers, in December . Manufacturing Production m/m is estimated to rise to 0.7% from previous period of -0.3%, but investor seems still reluctant to invrease confidence over Sterling. Vibiz Consulting Analyst said Pound normal range GBP/USD is estimated to have the support level at 1.5525 and resistance level at 1.5698. On the other side, Bank of England officials will likely refrain from adding stimulus to aid the economy today. Most economic predicts that The BOE panel led by the current governor, Mervyn King, will maintain its target for bond purchases at 375 billion pounds. Meanwhile BOE Governor-Designate Mark Carney will testify on monetary policy tools and if the existing framework is good for UK before the Treasury Select Committee, in London . VibizNews.com Quote Link to comment Share on other sites More sharing options...
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