1 May 2015
GBP/USD keeps falling, near 1.5230
FXStreet (Edinburgh) - The pound keeps losing ground vs. the greenback, now dragging GBP/USD to fresh intraday lows around 1.5230.
GBP/USD hurt by data, elections
Uncertainty regarding the outcome of next week’s UK general elections now seems to be weighing on the sterling. This, coupled with the mixed results from today’s releases in the British economy keeps the demand for GBP subdued while prompting sellers to increase their presence in the markets.
Recall that prior surveys still point to a hung parliament in the United Kingdom, while April’s Manufacturing PMI and Mortgage Approvals have missed expectations today.
GBP/USD key levels
At the moment the pair is retreating 0.76% at 1.5236 with the next support at 1.5200 (psychological level) followed by 1.5173 (low Apr.28) and then 1.5106 (low Apr.27). On the upside, a break above 1.5400 (high May 1) would expose 1.5420 (61.8% of 1.5492-1.5304) and finally 1.5498 (high Feb.29).
GBP/USD hurt by data, elections
Uncertainty regarding the outcome of next week’s UK general elections now seems to be weighing on the sterling. This, coupled with the mixed results from today’s releases in the British economy keeps the demand for GBP subdued while prompting sellers to increase their presence in the markets.
Recall that prior surveys still point to a hung parliament in the United Kingdom, while April’s Manufacturing PMI and Mortgage Approvals have missed expectations today.
GBP/USD key levels
At the moment the pair is retreating 0.76% at 1.5236 with the next support at 1.5200 (psychological level) followed by 1.5173 (low Apr.28) and then 1.5106 (low Apr.27). On the upside, a break above 1.5400 (high May 1) would expose 1.5420 (61.8% of 1.5492-1.5304) and finally 1.5498 (high Feb.29).