Forex: GBP/USD in red below 1.5000

The pessimism surrounding the sterling is building up on Thursday, ahead of the BoE MPC gathering due later in the European afternoon. Market participants are ruling out a change of the refi rate but the likeliness of a reactivation of Gilts purchases has been keeping the demand for GBP subdued.

As of writing, GBP/USD is down 0.15% at 1.4993 with the immediate support at 1.4965 (2013 low Mar.7) ahead of 1.4949 (low Jul.12 2010) and then 1.4873 (low Jul.1 2010).
On the flip side, a breakout of 1.5018 (high Mar.7) would expose 1.5110 (high Mar.6) and finally 1.5111 (MA10d).