21 Jul 2015
GBP/USD in red around 1.5550
FXStreet (Edinburgh) - The sterling is posting marginal losses vs. the greenback on Tuesday, raking GBP/USD to the mid-1.5500s so far.
GBP/USD attention to BoE minutes
The pair is retreating for the third consecutive session so far, coming down from last week’s tops in the boundaries of 1.5700 the figure. The recent hawkish tone from Governor M.Carney and MPC member D.Miles has been bolstering the GBP upside and boosting expectations for a rate hike by the BoE sooner than markets are currently anticipating. However, the persistent bid context around the dollar has removed a significant tailwind from the pair, relegating it to the current area of multi-day troughs.
Data wise in the UK, Public Sector Net Borrowing came in at £8.58 billion during June vs. May’s £8.35 billion. Ahead in the week, the BoE will release its minutes tomorrow.
GBP/USD relevant levels
At the moment the pair is down 0.10% at 1.5547 facing the immediate support at 1.5500 (psychological level) ahead of 1.5450 (low Jul.17) and finally 1.5391 (low Jul.11). On the upside, a break above 1.5672 (high Jul.17) would open the door to 1.5700 (psychological level) and then 1.5734 (high Jul.1).
GBP/USD attention to BoE minutes
The pair is retreating for the third consecutive session so far, coming down from last week’s tops in the boundaries of 1.5700 the figure. The recent hawkish tone from Governor M.Carney and MPC member D.Miles has been bolstering the GBP upside and boosting expectations for a rate hike by the BoE sooner than markets are currently anticipating. However, the persistent bid context around the dollar has removed a significant tailwind from the pair, relegating it to the current area of multi-day troughs.
Data wise in the UK, Public Sector Net Borrowing came in at £8.58 billion during June vs. May’s £8.35 billion. Ahead in the week, the BoE will release its minutes tomorrow.
GBP/USD relevant levels
At the moment the pair is down 0.10% at 1.5547 facing the immediate support at 1.5500 (psychological level) ahead of 1.5450 (low Jul.17) and finally 1.5391 (low Jul.11). On the upside, a break above 1.5672 (high Jul.17) would open the door to 1.5700 (psychological level) and then 1.5734 (high Jul.1).