GBP/USD attempts a recovery to 1.37, might get sold into

After a free-fall all the way to its lowest level since 1985, the GBP/USD pair seems to have found some support around 1.3200 region and recovered nearly 500-pips from session low to 1.3750 before fresh selling pressure emerged that took the pair back to below 1.3700 level.

In a historic referendum on its membership with the European Union, UK citizens voted to leave the EU that resurfaced uncertainty surrounding its implication on the UK economy, taking the British Pound spiraling lower.

The GBP/USD pair, however, managed to recover from lower levels after the BoE conveyed to take all necessary steps to ensure monetary and financial stability.