GBP/USD Firm Around 1.4600
The sterling keeps its buoyancy intact today, with GBP/USD gyrating around the 1.4600 handle as European markets are drawing to a close.
GBP/USD boosted by BoE, ‘Bremain’
The pair has reverted two consecutive sessions with losses, managing at
the same time to retake the critical barrier at 1.4600 the figure.
Today’s abrupt upside has come in response to the likeliness of a
‘Bremain’ scenario in the UK referendum, according to the latest poll by
ORB International, with 55% favouring the ‘Stay’ vote.
Further buying interest followed after the BoE’s Inflation Report, where
Governor Carney suggested the next move in rates would likely be up if
the UK stays as a member of the EU.
GBP/USD levels to consider
As of writing the pair is advancing 0.77% at 1.4616 facing the immediate
hurdle at 1.4666 (high May 19) ahead of 1.4770 (high May 3) and then
1.4815 (2016 high Jan.4). On the other hand, a breakdown of 1.4365
(20-day sma) would aim for 1.4335 (100-day sma) and finally 1.4330 (low
May 16).
