19 Jun 2015
GBP/USD challenging lows near 1.5850
FXStreet (Edinburgh) - The sterling is following the broader softer sentiment around the risk-associated assets, dragging GBP/USD to daily lows in the mid-1.5800s.
GBP/USD down from 2015 tops
The pair continues to correct lower from 2015 tops near 1.5930 posted on Thursday, now testing the area of 1.5850 as uncertainty around Greece remains the main drag in the global markets.
In the data space, UK’s Public Sector Net Borrowing surprised to the upside today coming in at £9.35 billion during May vs. £10.05 billion forecasted. The data add to the recent upbeat releases from retail sales and the BoE minutes.
GBP/USD levels to watch
As of writing the pair is down 0.12% at 1.5861 facing the next support at 1.5808 (low Jun.18) ahead of 1.5756 (23.6% of 1.5191-1.5930) and finally 1.5648 (38.2% of 1.5191-1.5930). On the flip side, a breakout of 1.5930 (2015 high Jun.18) would target 1.5940 (high Nov.12) en route to 1.5945 (high Nov.11).
GBP/USD down from 2015 tops
The pair continues to correct lower from 2015 tops near 1.5930 posted on Thursday, now testing the area of 1.5850 as uncertainty around Greece remains the main drag in the global markets.
In the data space, UK’s Public Sector Net Borrowing surprised to the upside today coming in at £9.35 billion during May vs. £10.05 billion forecasted. The data add to the recent upbeat releases from retail sales and the BoE minutes.
GBP/USD levels to watch
As of writing the pair is down 0.12% at 1.5861 facing the next support at 1.5808 (low Jun.18) ahead of 1.5756 (23.6% of 1.5191-1.5930) and finally 1.5648 (38.2% of 1.5191-1.5930). On the flip side, a breakout of 1.5930 (2015 high Jun.18) would target 1.5940 (high Nov.12) en route to 1.5945 (high Nov.11).