20 Jul 2015
GBP/USD supported near 1.5530
FXStreet (Edinburgh) - After climbing as high as the vicinity of 1.5630 early in the European morning, GBP/USD has sparked a correction lower to the 1.5530 area.
GBP/USD attention to the BoE minutes
Pretty interesting calendar in the UK economy ahead in the week, where the BoE MPC minutes are due on Wednesday and June’s Retail Sales will be published on Thursday. Market participants will closely follow the minutes, after recent hawkish comments by Governor M.Carney and MPC member D.Miles gave extra impulse to the sterling.
The pair has been retreating for three consecutive sessions so far, coming down from last week’s peaks just below the 1.5700 handle in a context favourable to the US dollar.
GBP/USD relevant levels
At the moment the pair is down 0.31% at 1.5556 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 the BoE minutes
Pretty interesting calendar in the UK economy ahead in the week, where the BoE MPC minutes are due on Wednesday and June’s Retail Sales will be published on Thursday. Market participants will closely follow the minutes, after recent hawkish comments by Governor M.Carney and MPC member D.Miles gave extra impulse to the sterling.
The pair has been retreating for three consecutive sessions so far, coming down from last week’s peaks just below the 1.5700 handle in a context favourable to the US dollar.
GBP/USD relevant levels
At the moment the pair is down 0.31% at 1.5556 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).