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GBP/USD trades below 1.4100

GBP/USD trades below 1.4100

The selling interest is picking up pace around the sterling, taking GBP/USD to fresh multi-year lows below 1.4100.

GBP/USD under pressure on Brexit fears

Mounting concerns on the possibility of a ‘Brexit’ scenario continue to hammer the British pound today, dragging spot to levels last seen in March 2009 and with increasing probabilities of staying below the critical 1.4100 handle.

Nothing scheduled today in the UK economy, while the ECB meeting could add further pressure via EUR volatility and its impact on EUR/GBP. Next of relevance for the pair will be tomorrow’s Retail Sales and UK’s Public Sector finances during November.

GBP/USD technical levels to watch

The forex pair is now losing 0.44% at 1.4100 with the next support at 1.4049 (monthly low Feb.2009) and then 1.4000 (psychological level). On the other hand, a breakout of 1.4443 (downtrend from 1.5232) would aim for 1.4543 (20-day sma) and finally 1.4888 (55-day sma).

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