Forex: GBP/USD back below 1.5100 after UK CPI

FXstreet.com (Barcelona) - The sterling advanced to the area of 1.5110/15 after UK’s consumer prices rose 2.8% on a yearly basis during February, banging on estimates and up from January’s 2.7%. MoM, prices rose 0.7%, in line with forecasts. The Core Print rose 2.3% matching the previous reading. Volatility is set to remain in the GBP as the BoE Inflation Letter is also due later.

GBP/USD is now losing 0.05% at 1.5099 with the next support at 1.5072 (low Mar.18) ahead of 1.5011 (MA10d) and then 1.4965 (low Mar.7).
On the upside, a breakout of 1.5160 (high Mar.18) would clear the way to 1.5177 (high Mar.15) and then 1.5200 (high Mar.5).