Cable continues to slide

  • GBP/USD is under pressure amid broad USD strength
  • The pair is approaching a key support area between 1.5315 and 1.5330
  • Immediate support seen at the Feb 23rd low of 1.5332, then the mid-February double bottom around 1.5315
  • A clear break below the area would suggest we’ll see a move to 1.52 in the near-term
  • UK econ calendar is light this week; we have UK Services PMI tomorrow and no other key data releases this week
  • BoE meeting on Thursday to be a non-event, as usual

gbpusd

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