26 Jun 2014
GBP/USD rises further after BoE news
FXStreet (Córdoba) - The GBP/USD stretched to marginal new high for the day after the release of the BoE Financial Stability Report and as Carney speaks on the matter.
Carney highlighted the housing market is the biggest threat to UK's economic recovery as new measures were announced aimed at cooling housing prices and mortgage lending as the economy recovers. The BoE put a limit on the ratio of loans a bank can lend relative to mortgagors’ incomes.
Immediate demand for GBP followed the news but the pair stalled at 1.7034. At time of writing, the Cable is trading at 1.7018, recording a 0.22% gain.
GBP/USD technical levels
As for technical levels, the Cable could face immediate resistances at 1.7062 (2014 high Jun 19), 1.7100 (psychological level) and 1.7180 (Oct 10 2008 high). On the flip side, supports are now seen at 1.6951 (Jun 25 low), 1.6920 (Jun 18 low) and 1.6900 (psychological level).
Carney highlighted the housing market is the biggest threat to UK's economic recovery as new measures were announced aimed at cooling housing prices and mortgage lending as the economy recovers. The BoE put a limit on the ratio of loans a bank can lend relative to mortgagors’ incomes.
Immediate demand for GBP followed the news but the pair stalled at 1.7034. At time of writing, the Cable is trading at 1.7018, recording a 0.22% gain.
GBP/USD technical levels
As for technical levels, the Cable could face immediate resistances at 1.7062 (2014 high Jun 19), 1.7100 (psychological level) and 1.7180 (Oct 10 2008 high). On the flip side, supports are now seen at 1.6951 (Jun 25 low), 1.6920 (Jun 18 low) and 1.6900 (psychological level).