Home GBP/USD < 1.48

Pound/dollar continues falling and the critical level of 1.48 is now breached. While the break is not confirmed (low only at 1.4790 at the time of writing) these are the lowest levels  since 2010,  below the lows of 2013.

The fresh move lower is related to a fresh wave of USD strength, but the larger move comes from the north of England.

The pair was hit by comments  that governor Mark Carney gave to a regional newspaper in Yorkshire. While he remained positive about the UK economy, as also seen in his Sheffield speech, the  Canadian head of the BOE also showed some “patience” regarding the interest rate hike. There is no hurry even a long time after the May 7th elections.

The dollar has been surging  throughout the week, with GBP/USD holding up quite well for quite some time. Sterling made records against the  plunging euro. However, the quid’s time to quit arrived, and it fell quite sharply.

Further support is at levels last seen in 2010. more coming

More:  GBP/USD Breakout: Levels & Targets – BofA, Goldman

Resistance awaits at 1.4865, followed by 1.49. The big line of 1.50 is even stronger resistance.

Pound dollar at lowest since 2010 under 1 dollar 48 cents technical GBPUSD chart


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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.