buying, despite record low U.K. inflation data.
Cheaper motoring costs and lower household services helped push U.K. underlying inflation down to its lowest level since the series began in 1976, according to figures published Tuesday the ONS. RPIX, which excludes mortgage interest payments, fell 0.7% on the month and rose only 1.8% on the year, compared with an annual rate of 2.0% in Dec. and forecasts for another 2.0% rise.
The outlook is mixed.

Support: 1.4534 (50% Fibonacci retracement level of the Nov.-Jan. rally), 1.4486 (overnight low), 1.4379 (Feb. 9 low; 2-month low), 1.4311 (Dec. 5-6 lows), 1.4402 (61.8% Fibonacci retracement level of Nov.-Jan. uptrend).
Resistance: 1.4556 (100-day moving average), 1.4574 (overnight high), 1.4629 (60-day moving average), 1.4666 (38.2% Fibonacci retracement level of the Nov.-Jan. rally), 1.4611 (20-day moving average), 1.4830 (Feb. 5 high).