GBP/USD Losing the Grip Near 1.4440

GBP/USD Losing the Grip Near 1.4440

10 June 2016, 08:25
Roberto Jacobs

GBP/USD Losing the Grip Near 1.4440

The sterling is following the rest of its risk-associated peers on Friday, sending GBP/USD to the lower end of the bound near 1.4440.

GBP/USD amidst ‘Brexit’ and USD

The resurgence of the buying interest around the greenback has motivated spot to retrace from tops beyond the 1.4600 handle recorded on Tuesday, giving away around two big figures so far.

Lower yields in UK Gilts and the re-emergence of jitters around a probable ‘Brexit’ scenario following the EU-UK Referendum at the end of the month have been weighing on sentiment as of late, spooking traders and triggering the ongoing leg lower.

GBP/USD levels to consider

As of writing the pair is retreating 0.05% at 1.4451 and a break below 1.4425 (55-day sma) would aim for1.4352 (low Jun.6) and then 1.4330 (low May 16). On the other hand, the next resistance aligns at 1.4645 (spike Jun.7) followed by 1.4715 (200-day sma) and finally 1.4744 (high May 6).



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