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2 May 2013
Forex: GBP/USD dips to session lows
FXstreet.com (Barcelona) - The selling interest in the sterling is intensifying on Thursday, dragging the cross to the vicinity of 1.5510/15 after comments by ECB’s M.Draghi sparked a sell-off in the risk-associated assets.
“Although Draghi reiterated that the ECB was technically prepared for a cut in the deposit rate (now zero). In the past, he had warned about the potential negative consequences. Now he is saying has an open mind”, commented Marc Chandler, Global Head of Currency Strategy at BBH.
GBP/USD is now losing 0.26% at 1.5515 with the next support at 1.5476 (low Apr.29) followed by 1.5418 (low Apr.26) and then 1.5408 (MA10d).
On the flip side, a break above of 1.5607 (high May 1) would expose 1.5690 (high Feb.13) and then 1.5810 (high Feb.11).
“Although Draghi reiterated that the ECB was technically prepared for a cut in the deposit rate (now zero). In the past, he had warned about the potential negative consequences. Now he is saying has an open mind”, commented Marc Chandler, Global Head of Currency Strategy at BBH.
GBP/USD is now losing 0.26% at 1.5515 with the next support at 1.5476 (low Apr.29) followed by 1.5418 (low Apr.26) and then 1.5408 (MA10d).
On the flip side, a break above of 1.5607 (high May 1) would expose 1.5690 (high Feb.13) and then 1.5810 (high Feb.11).