GBP/USD falls sharply amid BoE officials' comments

By FXstreet.com | June 24, 2014 AAA

FXStreet (Córdoba) - After a quiet consolidation phase, the GBP/USD faced some selling pressure and slid to fresh daily lows following comments from BoE officials.



The GBP/USD slipped below the 1.7000 mark, triggering stops orders and stretching to a low of 1.6973 so far. While BOE's Carney says pace of UK job creation remains strong and timing of rate rises will be driven by data, another member, Bean, said he doesn't judge that the moment to begin tightening has yet arrived.



At time of writing, the GBP/USD is trading at the 1.6980 zone, recording a 0.26% loss on the day, having closed the last three trading days above 1.7000.



In the macroeconomic domain, UK BBA May mortgage approvals came at 41.7K versus 41.3K expected.

GBP/USD levels to watch



In terms of technical levels, next supports could be found at 1.6968 (10-day SMA), 1.6920 (Jun 18 low) and 1.6900 (psychological level). On the flip side, resistances are seen at 1.7030 (Jun 24 high), 1.7062 (2014 high Jun 19) and 1.7100 (psychological level) ahead of 1.7180 (Oct 10 2008 high).



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