FXstreet.com (Barcelona) - Yesterday’s plunge sent the GBP/USD to print a new 5-week low at 1.5392. The corrective bounce was capped at 1.5440/50 area and the London opening is dragging the pair back down to retest 1.5400 sentiment level.
The Euro area remains under pressure, now with the two-notch downgrade to the Italian sovereign by Moody’s that could make an impact on the 3-year debt auction ahead.
“The market has tested 1.5407 (8th June low), this may provoke some consolidation, ahead of further losses to 1.5269/35 (recent low and 2012 low)”, wrote Commerzbank analyst Karen Jones.
The Euro area remains under pressure, now with the two-notch downgrade to the Italian sovereign by Moody’s that could make an impact on the 3-year debt auction ahead.
“The market has tested 1.5407 (8th June low), this may provoke some consolidation, ahead of further losses to 1.5269/35 (recent low and 2012 low)”, wrote Commerzbank analyst Karen Jones.
