Back
28 Aug 2013
GBP/USD steadies in a range
FXstreet.com (Córdoba) - The GBP/USD managed to reverse early losses during the American session, propelled by BoE Governor speech.
GBP/USD propelled by BoE liquidity moves
Even though Carney sounded pretty dovish, he announced the BoE will further relax rules on required liquid asset holdings for banks, which should free up another GBP 90 billion of credit. GBP/USD rallied over 120 pips following Carney’s words but failed to overcome the 1.5550 resistance area and entered in a consolidation phase.
GBP/USD levels to watch
At time of writing, GBP/USD is trading around 1.5525, where it is 0.1% below its opening price, with immediate resistances at 1.5550 (daily high) and 15600 (psychological level), while supports are seen at 1.5425 (daily low) and 1.5400 (psychological level).
GBP/USD propelled by BoE liquidity moves
Even though Carney sounded pretty dovish, he announced the BoE will further relax rules on required liquid asset holdings for banks, which should free up another GBP 90 billion of credit. GBP/USD rallied over 120 pips following Carney’s words but failed to overcome the 1.5550 resistance area and entered in a consolidation phase.
GBP/USD levels to watch
At time of writing, GBP/USD is trading around 1.5525, where it is 0.1% below its opening price, with immediate resistances at 1.5550 (daily high) and 15600 (psychological level), while supports are seen at 1.5425 (daily low) and 1.5400 (psychological level).