5 Nov 2015
GBP/USD breaks below 1.53 on BoE
FXStreet (Edinburgh) - The selling interest around the sterling is gathering further traction today, now pushing GBP/USD to daily lows in sub-1.5300 levels.
GBP/USD weaker on BoE
The pair’s downside has picked up pace after the BoE has left intact its monetary policy at today’s meeting – with the refi rate at 0.5% and the asset purchase facility at £375 billion.
In addition, the BoE minutes showed another 8-1 vote favouring the current status quo. MPC member Ian McCafferty was the usual dissenter, voting for a 25 bp rate hike to 0.75%.
GBP/USD levels to watch
At the moment, the pair is down 0.60% at 1.5292 with the immediate support at 1.5236 (23.6% Fibo of 1.5659-1.5106) ahead of 1.5231 (6-month uptrend) followed by and finally 1.5198 (low Oct.13). On the other hand, a break above 1.5448 (61.8% Fibo of 1.5659-1.5106) would open the door to 1.5478 (downtrend from 1.5820) and finally 1.5513 (high Oct.15).
GBP/USD weaker on BoE
The pair’s downside has picked up pace after the BoE has left intact its monetary policy at today’s meeting – with the refi rate at 0.5% and the asset purchase facility at £375 billion.
In addition, the BoE minutes showed another 8-1 vote favouring the current status quo. MPC member Ian McCafferty was the usual dissenter, voting for a 25 bp rate hike to 0.75%.
GBP/USD levels to watch
At the moment, the pair is down 0.60% at 1.5292 with the immediate support at 1.5236 (23.6% Fibo of 1.5659-1.5106) ahead of 1.5231 (6-month uptrend) followed by and finally 1.5198 (low Oct.13). On the other hand, a break above 1.5448 (61.8% Fibo of 1.5659-1.5106) would open the door to 1.5478 (downtrend from 1.5820) and finally 1.5513 (high Oct.15).