Cable fades the earlier spike beyond the 1.3100 handle. The pair comes under further pressure on dovish Carney. The BoE raised rates by 25 bp to 0.75% at today’s meeting. After moving above 1.3100 the figure in the wake of the BoE’s interest rate hike, GBP/USD has now come under further selling pressure and probes lows around 1.3020. GBP/USD weaker on Carney The Sterling has gathered extra downside pressure after Governor M.Carney said the equilibrium interest rate is expected to raise gradually. Carney also noted that Brexit is weighing on business investments, adding that risk premia on GBP assets have increased somewhat. Still on Brexit, Carney said negotiations are entering a critical period, while limited and gradual tightening of monetary policy is likely to be needed. Governor Carney also added that Q1 slowdown was primarily due to weather rather than economic conditions. GBP/USD levels to consider As of writing, the pair is losing 0.79% at 1.3023 and a break below 1.3000 (psychological level) would open the door to 1.2957 (2018 low Jul.19) and finally 1.2771 (monthly low Aug.4 2018). On the flip side, the next hurdle lines up at 1.3162 (21-day sma) followed by 1.3215 (high Jul.28) and then 1.3245 (55-day sma). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Carney speech: Shorter-term factors are pushing equilibrium interest rate below 2-3% range FX Street 5 years Cable fades the earlier spike beyond the 1.3100 handle. The pair comes under further pressure on dovish Carney. The BoE raised rates by 25 bp to 0.75% at today's meeting. After moving above 1.3100 the figure in the wake of the BoE's interest rate hike, GBP/USD has now come under further selling pressure and probes lows around 1.3020. GBP/USD weaker on Carney The Sterling has gathered extra downside pressure after Governor M.Carney said the equilibrium interest rate is expected to raise gradually. Carney also noted that Brexit is weighing on business investments, adding that risk premia on GBP assets have… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
