1 Jul 2015
GBP/USD slumps further, near 1.5650
FXStreet (Edinburgh) - The pound has found further weakness following the speech by BoE’s Carney, with GBP/USD testing lows in the mid-1.5600s.
GBP/USD weaker on Carney
The pair has dropped further after Governor Mark Carney argued that the central bank has contingency plans in order to deal with t he Greek crisis, while added that an eventual contagion to other EU members is lower than previous years. He also stressed that UK’s household debt is diminishing and economic growth remains solid. Furthermore, Carney said that ‘Grexit’ remains a possibility.
Still in the UK, earlier PMI manufacturing print for the month of June showed a drop to 51.4 from 51.9 in the previous month.
GBP/USD relevant levels
As of writing the pair is losing 0.35% at 1.5657 with the immediate support at 1.5626 (low Jun.17) ahead of 1.5600 (psychological level) and finally 1.5542 (low Jun.16). On the upside, a break above 1.5737 (high Jul.1) would target 1.5775 (high Jun.30) en route to 1.5789 (high Jun.29).
GBP/USD weaker on Carney
The pair has dropped further after Governor Mark Carney argued that the central bank has contingency plans in order to deal with t he Greek crisis, while added that an eventual contagion to other EU members is lower than previous years. He also stressed that UK’s household debt is diminishing and economic growth remains solid. Furthermore, Carney said that ‘Grexit’ remains a possibility.
Still in the UK, earlier PMI manufacturing print for the month of June showed a drop to 51.4 from 51.9 in the previous month.
GBP/USD relevant levels
As of writing the pair is losing 0.35% at 1.5657 with the immediate support at 1.5626 (low Jun.17) ahead of 1.5600 (psychological level) and finally 1.5542 (low Jun.16). On the upside, a break above 1.5737 (high Jul.1) would target 1.5775 (high Jun.30) en route to 1.5789 (high Jun.29).