FXStreet (Edinburgh) – A sudden bout of selling interest around the sterling has dragged GBP/USD to session lows in the 1.5570 area.
GBP/USD closer to weekly lows
The pair is trading at shouting distance from weekly troughs around 1.5560 (Thursday), decoupling from the rest of the riskier assets, which broadly remain in a consolidative pattern.
Data wise in the UK, the always-relevant Services PMI surpassed expectations during June, adding to the recent set of positive releases in the domestic economy. In the near term however, the Greek referendum remains the most relevant event, with last polls anticipating a very close outcome.
GBP/USD relevant levels
As of writing the pair is losing 0.15% at 1.5580 and a breach of 1.5566 (low Jul.3) would aim for 1.5542 (low Jun.16) and then 1.5487 (low Jun.15). On the flip side, the initial up barrier aligns at 1.5646 (high Jul.3) followed by 1.5734 (high Jul.1) and finally 1.5775 (high Jun.30).
(Market News Provided by FXstreet)