GBP/USD bounces off lows post-May’s statement, around 1.2580
The Sterling has managed to regain some ground vs. the Dollar on Tuesday, now prompting GBP/USD to rebound to the 1.2580 region.
GBP/USD supported near 1.2510
The pair keeps rebounding from daily lows near 1.2510 after UK’s PM Theresa May has announced its intentions to call for early elections on June 8th.
May also said that early elections is the only way to guarantee stability for coming years.
Spot has quickly shed around a cent from tops above 1.2600 the figure moments before today’s announcement, just to revert the drop in the wake of the confirmation of earlier rumours and with the 1.2600 handle back on the radar.
GBP/USD levels to consider
As of writing the pair is up 0.08% at 1.2576 and a breakout of 1.2607 (high Apr.18) would aim for 1.2618 (high Mar.27) and then 1.2624 (200-day sma). On the flip side, the next support lines up at 1.2516 (low Apr.18) followed by 1.2477 (low Apr.12) and finally 1.2430 (55-day sma).