FXStreet (Mumbai) – Fresh offers hit the GBP/USD pair 1.5448, taking the pair back to 1.54 levels as investors now appear to be focusing on BOE’s concerns regarding Sterling strength.
Back below key Fib
Sterling’s rise above 1.5413 (38.2% of last two week’s fall) proved to be short lived. The quick spike ran into offers since the BOE minutes sounded concerned regarding the disinflationary impact of the strong GBP.
The spot would now look towards the weekly jobless claims report in the US due later today. Meanwhile, sentiment on the Wall Street could also affect Sterling.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5413 (38.2% of last two week’s fall), followed by another hurdle at 1.5448 (daily high). On the other side, support is seen at 1.5350 (200-DMA) and 1.53 levels.
(Market News Provided by FXstreet)