1 May 2015
GBP/USD: Dropping like a stone, through 100 DMA
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5130 with a high of 1.5398 and a low of 1.5127.
GBP/USD has dropped to meet territory in the 1.5150's and 100 DMA and followed on through there with plenty of supply in Sterling as data continues to disappoint from the UK area ahead of the elections where it might be expected to see a weak pound around the uncertainty of the outcome.
Analysts at ANZ explained We expect sterling to remain under pressure at least until the political fog lifts. "It could take a couple of weeks to form a government. Stay short GBP on the crosses". Technically, slides would be on target for the 1.4291/29 area (longer term), according to Kare Jones chief analyst at Commerzbank.
GBP/USD has dropped to meet territory in the 1.5150's and 100 DMA and followed on through there with plenty of supply in Sterling as data continues to disappoint from the UK area ahead of the elections where it might be expected to see a weak pound around the uncertainty of the outcome.
Analysts at ANZ explained We expect sterling to remain under pressure at least until the political fog lifts. "It could take a couple of weeks to form a government. Stay short GBP on the crosses". Technically, slides would be on target for the 1.4291/29 area (longer term), according to Kare Jones chief analyst at Commerzbank.