23 Jul 2015
GBP/USD keeps the red below 1.5600
FXStreet (Edinburgh) - The sterling remains mired in the negative ground on Thursday, taking GBP/USD to the area just below 1.5600 the figure.
GBP/USD depressed post-data
Spot dropped almost a big figure since session tops near 1.5680 following the poor prints from UK retail sales, contracting 0.2% on a monthly basis during June. The pair thus trimmed part of the BoE-induced rally sparked yesterday, after the ‘Old Lady’ hinted at the possibility of a rate hike sooner than current market expectations (consensus points to November). This view adds to previous hawkish comments by Governor M.Carney and MPC D.Miles.
There are no further releases in the UK economy for the week, leaving the pound to the mercy of risk appetite trends and USD-dynamics.
GBP/USD relevant levels
At the moment the pair is losing 0.11% at 1.5597 with the next support at 1.5550 (low Jul.22) ahead of 1.5500 (psychological level) and then 1.5450 (low Jul.17). On the upside, a break above 1.5673 (high Jul.23) would expose 1.5700 (psychological level) and then 1.5734 (high Jul.1).
GBP/USD depressed post-data
Spot dropped almost a big figure since session tops near 1.5680 following the poor prints from UK retail sales, contracting 0.2% on a monthly basis during June. The pair thus trimmed part of the BoE-induced rally sparked yesterday, after the ‘Old Lady’ hinted at the possibility of a rate hike sooner than current market expectations (consensus points to November). This view adds to previous hawkish comments by Governor M.Carney and MPC D.Miles.
There are no further releases in the UK economy for the week, leaving the pound to the mercy of risk appetite trends and USD-dynamics.
GBP/USD relevant levels
At the moment the pair is losing 0.11% at 1.5597 with the next support at 1.5550 (low Jul.22) ahead of 1.5500 (psychological level) and then 1.5450 (low Jul.17). On the upside, a break above 1.5673 (high Jul.23) would expose 1.5700 (psychological level) and then 1.5734 (high Jul.1).