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Forex pairs in this Article » GBP/USD (Edinburgh) - The pronounced drop of GBP/USD seems to have found bids in the area of 1.5100 the figure on Thursday, currently attempting some sort of consolidation around that level.

GBP/USD remains subdued

Recall that the pound lost almost 2 big-figures after the BoE left unchanged both its asset purchase facility and the benchmark rate, at £375 billion and 0.5%, respectively. “Sterling remains under pressure as the Bank of England is likely to provide forward guidance on interest rates in an attempt to inspire consumer and business confidence in the economy… Any forward guidance on interest rates will be warmly greeted by homeowners, particularly those with tracker mortgages, who will be in a better position to budget and even forecast the right time to lock in”, assessed Alistair Cotton, Senior Analyst at Currencies Direct.

GBP/USD levels to watch

The pair is trading well into the red territory at the moment, losing 1.13% at 1.5106. Next support levels align at 1.5074 (low Jul.4) followed by 1.5049 (76.4% of 1.4832-1.5753) and finally 1.5008 (low May 29). On the flip side, a break above 1.5283 (MA10d) would target 1.5305 (high Jul.3) en route to 1.5346 (high Jun.27).
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