Forex: GBP/USD dips to session lows below 1.5890
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - The sterling is rapidly losing ground against the dollar on Wednesday, as risk aversion is hammering markets after the EU ministers have failed again in delivering a deal on the Greek debt.
GBP would face more pressure ahead of the BoE minutes, to be released later. The key issue would be the last voting pattern of the MPC to pause the purchases of Gilts in the last meeting. A unanimous vote would support the sterling.
GBPUSD is now losing 0.25% at 1.5885 and a drop below 1.5853 (MA200d) would aim to 1.5828 (low Nov.15) and 1.5826 (low Sep.5).
On the other hand, resistance levels lie at 1.5982 (MA21d) ahead of 1.6020 (high Nov.9) and 1.6043 (high Nov.7).
GBP would face more pressure ahead of the BoE minutes, to be released later. The key issue would be the last voting pattern of the MPC to pause the purchases of Gilts in the last meeting. A unanimous vote would support the sterling.
GBPUSD is now losing 0.25% at 1.5885 and a drop below 1.5853 (MA200d) would aim to 1.5828 (low Nov.15) and 1.5826 (low Sep.5).
On the other hand, resistance levels lie at 1.5982 (MA21d) ahead of 1.6020 (high Nov.9) and 1.6043 (high Nov.7).
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