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Forex: GBP/USD testing 1.5200

FXstreet.com (Barcelona) - The sterling is following its European peer on Thursday, trading in the defensive territory and challenging the key support at 1.5200.
There is no docket in the UK today, leaving the pound to the mercy of the risk trends, although most of the price actions is expected in the afternoon, as the US calendar is crowded.

Despite the positive tone, yesterday’s inflation report by the BoE and King’s speech could do nothing to stop the depreciation of the sterling, which found upside attempts capped around 1.5250.

As of writing, the pair is down 0.16% at 1.5210 and a breach of 1.5128 (61.8% of 1.4832-1.5607) would bring 1.5034 (low Apr.4).
On the flip side, resistance levels line up at 1.5331 (high May14) ahead of 1.5392 (MA21d) and finally 1.5419 (MA10d).

Forex: EUR/USD in red around 1.2870

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