FXStreet (Córdoba) - GBP/USD extended losses to fresh 2-week lows as the pound continued to weaken following a poll that showed inflation expectations fell in August.
UK 1-year CPI inflation expectations poll from YouGov showed a decline to 1.4% from 1.6% in July, raising speculation the Bank of England may have to wait longer before raising rates. GBP/USD fell below the 1.55 mark and hit its lowest level since Aug 10 at 1.5498 in recent dealings.
GBP/USD levels to watch
At time of writing, Cable is trading at 1.5503, recording a 1.16% loss on the day. On the downside, a clear break below 1.5500 will pave the way towards 1.5462 (100-day SMA) and 1.5423 (Aug 7 low). On the other hand, resistances are seen at 1.5611 (21-day SMA) and 1.5719 (Aug 26 high).
UK 1-year CPI inflation expectations poll from YouGov showed a decline to 1.4% from 1.6% in July, raising speculation the Bank of England may have to wait longer before raising rates. GBP/USD fell below the 1.55 mark and hit its lowest level since Aug 10 at 1.5498 in recent dealings.
GBP/USD levels to watch
At time of writing, Cable is trading at 1.5503, recording a 1.16% loss on the day. On the downside, a clear break below 1.5500 will pave the way towards 1.5462 (100-day SMA) and 1.5423 (Aug 7 low). On the other hand, resistances are seen at 1.5611 (21-day SMA) and 1.5719 (Aug 26 high).
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