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14 May 2013
Forex: GBP/USD drops below 1.5300
FXstreet.com (Barcelona) - The pessimism surrounding the sterling is dragging the pound to sub 1.5300 levels on Tuesday, decoupling from its European counterpart.
“The market has continued to pare back Bank of England easing expectations after they left policy unchanged at last week’s meeting. Focus for this week will be on Thursday’s Inflation Report, in what will be outgoing Governor King’s last ahead of Carney’s arrival in July”, commented Nick Mannion, FX Trading Analyst at RBS.
The cross is now losing 0.19% at 1.5270 with the next support at 1.5265 (low Apr.25) followed by 1.5246 (MA55d) and finally 1.5227 (low Apr.24).
On the flip side, a break out of 1.5405 (MA21d) would then target 1.5447 (low May 7) en route to 1.5465 (MA0d).
“The market has continued to pare back Bank of England easing expectations after they left policy unchanged at last week’s meeting. Focus for this week will be on Thursday’s Inflation Report, in what will be outgoing Governor King’s last ahead of Carney’s arrival in July”, commented Nick Mannion, FX Trading Analyst at RBS.
The cross is now losing 0.19% at 1.5270 with the next support at 1.5265 (low Apr.25) followed by 1.5246 (MA55d) and finally 1.5227 (low Apr.24).
On the flip side, a break out of 1.5405 (MA21d) would then target 1.5447 (low May 7) en route to 1.5465 (MA0d).