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4 Jun 2015
GBP/USD finds support at 1.5300
FXStreet (Edinburgh) - The sterling has recovered from the earlier drop to the vicinity of 1.5300 vs. the greenback, with GBP/USD now hovering over 1.5330/35.
GBP/USD attention to the BoE
The pair is retreating marginally today ahead of the BoE monetary policy meeting, although consensus expects the ‘Old Lady’ to leave unchanged both the refi rate and the asset purchase facility at 0.5% and £375 billion, respectively.
Without further events in the UK economy, the pound will look for catalysts across the Channel, where Greece and the recent developments in the German Bunds keep grabbing markets’ attention.
GBP/USD levels to consider
The pair is now losing 0.06% at 1.5331 and a breakdown of 1.5254 (low Jun.3) would open the door to 1.5200 (psychological level) and finally 1.5181 (low Jun.2). On the other hand, the initial up barrier aligns at 1.5350 (10-d MA) followed by 1.5375 (high Jun.3) and then 1.5400 (psychological level).
GBP/USD attention to the BoE
The pair is retreating marginally today ahead of the BoE monetary policy meeting, although consensus expects the ‘Old Lady’ to leave unchanged both the refi rate and the asset purchase facility at 0.5% and £375 billion, respectively.
Without further events in the UK economy, the pound will look for catalysts across the Channel, where Greece and the recent developments in the German Bunds keep grabbing markets’ attention.
GBP/USD levels to consider
The pair is now losing 0.06% at 1.5331 and a breakdown of 1.5254 (low Jun.3) would open the door to 1.5200 (psychological level) and finally 1.5181 (low Jun.2). On the other hand, the initial up barrier aligns at 1.5350 (10-d MA) followed by 1.5375 (high Jun.3) and then 1.5400 (psychological level).