GBP USD reinforced by USD declines
9/8/2016 8:43:03 AM
Pound is now managing to keep the trade in the positive territory following yesterday’s retracement, with GBP/USD floating over the mid-1.3300s. The pair shed around a cent since recent tops in the mid-1.3400s following a progress in the buying interest around the dollar on Wednesday. Additionally, and adding to GBP selling, market participants have comprehended yesterday’s BoE Inflation Report Hearings as rather dovish after Governor Carney and other MPC members concurred that the central bank is ready to incur in more easing in case of need. On the bright side, it looked that ‘Brexit’ fears have been slightly overestimated, though it is still too early to evaluate such a scenario. As of writing the pair is gaining 0.07% at 1.3350 and a breakout of 1.3445 would open the door to 1.3480 and then 1.3545. On the other hand, the immediate support align at 1.3205 followed by 1.3165 and ultimately 1.2864.
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