GBP/USD back to pre-BoE levels

GBPUSD continued to move lower over the last hours, and has already erased post Bank of England’s decision gains, as the greenback outperformed European peers.

GBP/USD lost more than 300 pips since the Asian session and bottomed out at 1.3130 before finding support and recovering slightly, but remains capped by the 1.32 mark. At time of writing, the pair is trading at 1.3198, 1.06% down on the day but still headed for a 1.89% weekly gain.

GBP/USD technical levels

In terms of technical levels, next supports could be faced at 1.3100 (10-day SMA), 1.2970 (Jul 12 low), 1.2849 (Jul 11 low) and 1.2796 (31-year low, Jul 6). On the flip side, resistances line up at 1.3480/82 (Jul 15 high/Jun 27 high), 1.3544 (21-day SMA) and 1.3600 (psychological level).