GBP/USD through 1.3800 post-Cameron, BoE eyed

The sterling has managed to rebound from the 1.3230 area vs. the greenback so far today, with GBP/USD now hovering over the 1.3800 neighbourhood.

GBP/USD weaker on Brexit

Sterling dropped to the lowest level in more than three decades after a ‘Brexit’ win at the UK Referendum (51.9%). The shocking results have triggered an immediate wave of selling pressure on GBP and spread chaos into the rest of the global markets.

At his statement minutes ago, PM J.Cameron reassured the UK economy remains fundamentally strong and he plans to step down probably by October.

In the meantime, all eyes remain on the BoE as Governor M.Carney is expected to speak at some point during the day.

GBP/USD levels to consider

As of writing the pair is retreating 7.15% at 1.3813 facing the next support at 1.3230 (low post-referendum Jun.24). On the other hand, a surpass of 1.4000 (psychological handle) would aim for 1.4350 (100-day sma) and then 1.4409 (20-day sma).