4 Jul 2013
GBP/USD testing 1.5250
FXstreet.com (Edinburgh) - After a brief adventure above 1.5300 the figure on Wednesday, the GBP/USD commenced a pullback to the current area around 1.5250.
GBP/USD focus on the BoE
A very good performance by the services PMI during June in the UK economy lifted the cross more than a big-figure on Wednesday to test multi-day highs around 1.5300, although all that euphoria will be put to the test today with the BoE MPC meeting. “We expect the Bank of England to opt for status quo in connection with today’s announcement… However, this will be the first MPC meeting with Mark Carney as governor and a deviation from usual practice is possible, even if policy is unchanged”, commented Sverre Holbek, Senior Analyst at Danske Bank.
GBP/USD key levels
The pair is now losing 0.22% at 1.5245 facing the immediate support at 1.5131 (low Jul.3) ahead of 1.5000 (psychological level). On the flip side, a breakout of 1.5321 (high May 16) would bring 1.5371 (MA55d).
GBP/USD focus on the BoE
A very good performance by the services PMI during June in the UK economy lifted the cross more than a big-figure on Wednesday to test multi-day highs around 1.5300, although all that euphoria will be put to the test today with the BoE MPC meeting. “We expect the Bank of England to opt for status quo in connection with today’s announcement… However, this will be the first MPC meeting with Mark Carney as governor and a deviation from usual practice is possible, even if policy is unchanged”, commented Sverre Holbek, Senior Analyst at Danske Bank.
GBP/USD key levels
The pair is now losing 0.22% at 1.5245 facing the immediate support at 1.5131 (low Jul.3) ahead of 1.5000 (psychological level). On the flip side, a breakout of 1.5321 (high May 16) would bring 1.5371 (MA55d).