GBP/USD in red, hovering over 1.4600

The sterling is losing its shine on Monday, sending GBP/USD to the area around 1.4600 the figure after testing 1.4590 in early trade.

GBP/USD supported at 1.4590

The pair is extending the recent leg lower sparked after Thursday’s fresh tops in the 1.4740 region, following a persistent bid tone around the greenback.

USD has gathered further buying interest after Chairwoman J.Yellen added to the ongoing perception of a rate hike by the Federal Reserve in June or July at her speech on Friday. That said, Yellen has followed the views expressed by several FOMC governors as well as the last FOMC minutes, sustaining the USD upside momentum.

In the UK’s data space, Manufacturing PMI (Wednesday), Governor M.Carney’s speech (Thursday) and Services PMI (Friday) will take centre stage later in the week.

GBP/USD levels to consider

As of writing the pair is losing 0.20% at 1.4609 and a breakdown of 1.4522 (20-day sma) would aim for 1.4397 (55-day sma) and finally 1.4330 (low May 16). On the flip side, the next hurdle aligns at 1.4744 (high May 26) ahead of 1.4770 (high May 3) and then 1.4815 (2016 high Jan.4).