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GBP/USD back above 1.4900

FXstreet.com (Córdoba) - The GBP/USD managed to trim some of its recent losses, climbing back above 1.4900 as the immediate NFP effect fades.

GBP/USD still feeling BoE pressure

GBP/USD fell to a fresh 4-month low of 1.4856 in the wake of US employment figures and still weighed by BoE dovish statement, but found buyers and it is staging a corrective movement. At time of writing, GBP/USD is trading around 1.4910/15, where it records a 1.0% loss on Friday, having dropped over 400 pips within the last 48 hours.

GBP/USD levels to watch

As for technical levels, Valeria Bednarik, chief analyst at FXstreet.com locates next resistances at 1.4950 and 1.5000, while she places supports at 1.4860, 1.4830 and 1.4790.

Flash: GBP/USD eyes long-term 1.4000 target – UBS

“We wish to continue running a short GBP/USD view, especially as the month will see further risk events for the GBP such as the August 7 inflation report where Carney is likely to further embellish the guidance concept and even introduce intermediate thresholds.” notes Research Analyst Gareth Berry at UBS.
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