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GBP/USD drops further, 1.4150 on sight

The sterling is sharply lower across the board today, with GBP/USD now losing nearly 1.5% around the mid-1.4100s.

GBP/USD much lower on ‘Brexit’

The pair has intensified its decline, reaching 4-week lows in the 1.4150/40 band, following the decision by London’s mayor Boris Johnson to support a campaign to leave the European Union.

Comments by B.Johnson have also sent the sterling to the biggest drop since 2010, losing nearly 3 cents since Friday’s tops above the 1.4400 handle.

GBP/USD levels to consider

As of writing the pair is retreating 1.63% at 1.4167 and a break below 1.4147 (low Jan.29) would expose 1.4100 (psychological level) and then 1.4079 (2016 low Jan.21). On the upside, the next resistance lines up at 1.4400 (20-day sma) followed by 1.4522 (38.2% Fibo of 1.5240-1.4079) and finally 1.4579 (55-day sma).

GBP/JPY dumped 2 big figures on Brexit woes

The cross in the GBP/JPY remains relentlessly offered during the European trading hours, although moved-off lows as the ongoing broad yen weakness offers some respite.
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European stocks rally, FTSE up 1% despite Brexit fears

The stock markets in Europe rallied along with oil and commodity prices, with UK’s FTSE rising more than 1% despite concerns Britain may vote to leave the European Union.
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