GBP/USD in Consolidation Mode Around 1.4150
GBP/USD has steadied within a narrow range over the last hours after recovering from 4-day lows struck during the European session.
Cable
bottomed out at 1.4089 but managed to regain the 1.41 mark before the
Bank of England decision to leave rates unchanged. The meeting ended up
being a non-even, with GBP/USD barely moving over the last hours. At
time of writing, the pair was trading at 1.4545, still down 0.40% on the
day.
Meanwhile, IMF Chief Lagarde warned on Thursday that that Brexit is one ‘serious downside risk’ to global growth.
GBP/USD technical levels
In
terms of technical levels, immediate supports are seen at 1.4089 (Apr
14 low), 1.4040 (Apr 8 low) and 1.4004/00 (Apr 4 low/psychological
level). On the other hand, resistances line up at 1.4240 (50-day SMA),
1.4278 (Apr 13 high) and 1.4347 (Apr 12 high).
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