2 Jul 2013
GBP/USD falls to trade below 1.5150
FXstreet.com (San Francisco) - The Sterling is currently trading lower against the US Dollar and after falling around 100 pips from 1.3235 in the European session, the GBP/USD has broken down the 1.5200 area to price below the 1.5150 at daily lows of 1.5135.
At this moment, the GBP/USD is trading at 1.5140, 0.50% down on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
GBP/USD tech levels
Below the 1.5150, next supports come at 1.5111 (low May 30) and the psychological 1.5100. On the upside, the initial hurdle lies at 1.5249 (high Jul.1) followed by 1.5279 (high Jun.28) and finally 1.5346 (high Jun.27).
GBP/USD focused on the BoE meeting
The BoE will hold the first meeting with the new Governor M.Carney on Thursday. “The headwinds of domestic austerity, inflation and the Eurozone recession means that the BoE will have to work hard to insure the recovery remains on track. Although we agree with the consensus that the prospects of further QE this year have dropped, Carney is likely to emphasise the BoE’s accommodative position. The most obvious tool that Carney is likely to invoke is that of forward guidance”, commented Jane Foley, Strategist at Rabobank.
At this moment, the GBP/USD is trading at 1.5140, 0.50% down on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
GBP/USD tech levels
Below the 1.5150, next supports come at 1.5111 (low May 30) and the psychological 1.5100. On the upside, the initial hurdle lies at 1.5249 (high Jul.1) followed by 1.5279 (high Jun.28) and finally 1.5346 (high Jun.27).
GBP/USD focused on the BoE meeting
The BoE will hold the first meeting with the new Governor M.Carney on Thursday. “The headwinds of domestic austerity, inflation and the Eurozone recession means that the BoE will have to work hard to insure the recovery remains on track. Although we agree with the consensus that the prospects of further QE this year have dropped, Carney is likely to emphasise the BoE’s accommodative position. The most obvious tool that Carney is likely to invoke is that of forward guidance”, commented Jane Foley, Strategist at Rabobank.