FXStreet (Edinburgh) – The sterling has quickly faded the spike to session tops near 1.5260 vs. the greenback on Friday, with GBP/USD now returning to the 1.5220 area.
GBP/USD supported around 1.5200
The pair has managed to gain traction after bottoming out in the 1.5200 neighbourhood in early trade, although the bullish attempt run out of steam around 1.5260.
Against the backdrop of choppy trade today, comments from the BoE have signalled increasing risks to financial stability coming from China and some other emerging economies. In the meantime, next of relevance for the pair will be the final revision of the US GDP Annualized during the second quarter, expected at 3.7%.
GBP/USD significant levels
As of writing the pair is losing 0.03% at 1.5227 with the next support at 1.5200 (low Sep.24) ahead of 1.5171 (low Sep.7) and then 1.5164 (low Sep.4). On the upside, a breakout of 1.5263 (high Sep.25) would expose 1.5289 (high Sep.24) and finally 1.5364 (high Sep.23).
(Market News Provided by FXstreet)