GBP/USD eases to 1.6950

By FXstreet.com | June 13, 2014 AAA

FXStreet (Edinburgh) - The sterling is now deflating from recent highs around 1.6990, pushing the GBP/USD to the mid-1.6900s at the moment.



GBP/USD propped up by Carney



The pound is outperforming its peers on Friday despite the generalized risk-off sentiment. Governor M.Carney hinted at the likeliness of a rate hike sooner than market expectations in his speech last night, prompting traders to quickly take positions in GBP and thus lifting spot close to the 1.700 psychological barrier. “With Governor Carney also noting “early signs” of a housing bubble, a November rate hike now seems the most plausible scenario to us”, noted Derek Halpenny, European Head of Global Markets Research at BTMU.



GBP/USD key levels



At the moment the pair is advancing 0.14% at 1.6953 and a surpass of 1.6997 92014 high May 6) would target 1.700 (psychological level) en route to 1.7044 (high Aug.5 2009). On the flip side, the initial support aligns at 1.6923 (low Jun.13) followed by 1.6900 (psychological level) and finally 1.6828 (30-d MA).



comments powered by Disqus
Related Forex Analysis
  1. AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation
    Forex News

    AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation

  2. USD/JPY bulls need to take a breath before a new attack at 110.00
    Forex News

    USD/JPY bulls need to take a breath before a new attack at 110.00

  3. Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
    Forex News

    Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low

  4. GBP/USD nervous below 1.6200, waiting for data
    Forex News

    GBP/USD nervous below 1.6200, waiting for data

  5. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Trading Center