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Forex pairs in this Article » GBP/USD (London) - GBP/USD has cleared support 1.5380 and is targeting this weeks lows below 1.5340/50.

GBP/USD is suffering on higher US yields yet again, with FOMC left overs satisfying the bears. While certain Fed officials had diminished some gains in the dollar and calmed markets momentarily, the market is still favoring the greenback to some extent. BoE Governor will be speaking at 930GMT when the Financial Stability report will be delivered simultaneously. The UK spending review comes in later at 11.30GMT while US data will begin to take the stage. At 12.30GMT, US GDP Q1 annulised arrives and will be in focus.

GBP/USD support

Karen Jones, analysts at Commerzbank said she feels below 1.5345 will target the support line at 1.5073 and the base of the daily cloud at 1.5218 may offer support en route. She see’s key resistance remains the 1.5736/88 band – the recent high, the 61.8% retracement of this years move, the 200 week moving average.
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