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15 Jul 2013
GBP/USD in fresh lows near 1.5070
FXstreet.com (Edinburgh) -The sterling is accelerating its intraday downside on Monday, with the GBP/USD easing from peaks around 1.5130 to the current area in the vicinity of 1.5070.
GBP/USD key week ahead
The pair will be in centre stage this week as the BoE minutes are due on Wednesday, as well as the releases of the inflation figures, jobless rate, BoE’s Inflation Letter, Retail Sales and Public Sector finances. According to BBH Global Currency Strategy Team, the pair “It has retraced almost 38.2%, which comes in near $1.5065. Below there are the 50% retracement around $.15020 and the 61.8% retracement near $1.4970. A break of these areas is needed to signal the resumption of the bear tend. On the upside, resistance is see near $1.5200 and then $1.5280”.
GBP/USD levels to watch
As of writing the pair is down 0.30% at 1.5072 with the next support at 1.5035 (low Jul.11) ahead of 1.5008 (low May 29) and finally 1.5000 (psychological level). On the flip side, a surpass of 1.5140 (MA10w) would target 1.5189 (high Jul.12) en route to 1.5222 (high Jul.11).
GBP/USD key week ahead
The pair will be in centre stage this week as the BoE minutes are due on Wednesday, as well as the releases of the inflation figures, jobless rate, BoE’s Inflation Letter, Retail Sales and Public Sector finances. According to BBH Global Currency Strategy Team, the pair “It has retraced almost 38.2%, which comes in near $1.5065. Below there are the 50% retracement around $.15020 and the 61.8% retracement near $1.4970. A break of these areas is needed to signal the resumption of the bear tend. On the upside, resistance is see near $1.5200 and then $1.5280”.
GBP/USD levels to watch
As of writing the pair is down 0.30% at 1.5072 with the next support at 1.5035 (low Jul.11) ahead of 1.5008 (low May 29) and finally 1.5000 (psychological level). On the flip side, a surpass of 1.5140 (MA10w) would target 1.5189 (high Jul.12) en route to 1.5222 (high Jul.11).