30 Jul 2013
GBP/USD testing 1.5300 the figure
FXstreet.com (Barcelona) -Renewed selling pressure around the pound is dragging the GBP/USD to test weekly lows around the key support at 1.5300 on Tuesday.
GBP/USD contained around 1.5300
It seems that the corrective decline found strong support around 1.5300 so far, as markets are gradually entering into the pre-FOMC gathering lull. However, the big risk event for the sterling exclusively will be the BoE meeting due on Thursday. “We expect no change at the 1 August MPC meeting, and in our eyes the 7 August Inflation Report is the key date for the UK. In the inflation report we think a nominal GDP growth threshold could be adopted but no additional loosening for now”, assessed analysts at HSBC.
GBP/USD critical levels
At the moment the pair is down 0.23% at 1.5305 with the next support at 1.5264 (low Jul.25) ahead of 1.5258 (low Jul.22) and finally 1.5242 (MA30d). On the flip side, a break above 1.5353 (high Jul.30) would expose 1.5416 (high Jul.26) and then 1.5435 (high Jul.25).
GBP/USD contained around 1.5300
It seems that the corrective decline found strong support around 1.5300 so far, as markets are gradually entering into the pre-FOMC gathering lull. However, the big risk event for the sterling exclusively will be the BoE meeting due on Thursday. “We expect no change at the 1 August MPC meeting, and in our eyes the 7 August Inflation Report is the key date for the UK. In the inflation report we think a nominal GDP growth threshold could be adopted but no additional loosening for now”, assessed analysts at HSBC.
GBP/USD critical levels
At the moment the pair is down 0.23% at 1.5305 with the next support at 1.5264 (low Jul.25) ahead of 1.5258 (low Jul.22) and finally 1.5242 (MA30d). On the flip side, a break above 1.5353 (high Jul.30) would expose 1.5416 (high Jul.26) and then 1.5435 (high Jul.25).