GBP/USD Weak as Dovish BOE Inflation Report Weighs

        0102 GMT [Dow Jones] GBP/USD is likely to trade with a bearish bias after hitting a 14-month low of 1.5676 early Friday. The currency pair is weighed by continued impact from Wednesday's dovish Bank of England quarterly inflation report, and sterling sales on cross trades versus major currencies. Daily chart is negative-biased as MACD indicator bearish, slow stochastic measure stays suppressed at oversold levels, five- and 15-day moving averages declining. There's no significant support until 1.5504 (Sept. 2, 2013 low); a breach would expose downside to 1.5426 (Aug. 28, 2013 reaction low). Resistance is at 1.5780 (Thursday's high). Spot GBP/USD is at 1.5687. (jerry.tan@wsj.com)

        (END) Dow Jones Newswires

        November 13, 2014 20:02 ET (01:02 GMT)