GBP/USD bounces back to 1.3300 area
The Pound Sterling has been fighting to recover from its recent lows, with GBP/USD clawing back to the 1.3300 area.
The currency’s recovery is being hindered by a ceiling formed by its 50-day and 200-day Exponential Moving Averages.
The Bank of England’s hawkish stance has provided a yield-based floor for the Pound, but the political vacuum left by the Prime Minister’s resignation is capping enthusiasm for the currency.