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14 May 2014
GBP/USD extends lows to nearly 1-month lows of 1.6750
FXStreet (San Francisco) - The Sterling continues to trade under pressure following a more dovish than expected Bank of England quarterly inflation report and Carney press conference. The GBP/USD is trading at nearly 1-month lows at 1.6750
After a 115 pips drop from 1.6875 and a shy bounce back to 1.6780, the GBP/USD extended decline to test the 1.6750, fresh lowest since April 16.
Currently, GBP/USD is trading at 1.6780, down 0.26% on the day, having posted a daily high at 1.6876 and low at 1.6754. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
GBP/USD sentiment
"From here," comments FXBeat editor Gerry Davies, "talk of buy orders clustered down 1.6740/50, 'decent' apparently at 1.6745/50."
After a 115 pips drop from 1.6875 and a shy bounce back to 1.6780, the GBP/USD extended decline to test the 1.6750, fresh lowest since April 16.
Currently, GBP/USD is trading at 1.6780, down 0.26% on the day, having posted a daily high at 1.6876 and low at 1.6754. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
GBP/USD sentiment
"From here," comments FXBeat editor Gerry Davies, "talk of buy orders clustered down 1.6740/50, 'decent' apparently at 1.6745/50."