Forex: GBP/USD breached 1.5700
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - The sterling is intensifying its decline on Monday, breaching for a few moments the key support at 1.5700 on increasing selling pressure. The last disappointing Q4 GDP figures in the British economy would still be weighting on GBP, as markets remain unbiased.
Couple with the above, the increasing outflows from the quasi safe haven into the euro zone would be collaborating in the downside
As of writing, the cross is losing 0.43% at 1.5694 with the next support at 1.5678 (low Aug.20) followed by 1.5674 (low Aug.17) and finally 1.5667 (61.8% of 1.5269-1.6310).
On the flip side, a breakout of 1.5795 (hourly high Jan.28) would open the door to 1.5852 (high Jan.24) en route to 1.5876 (MA10d).
Couple with the above, the increasing outflows from the quasi safe haven into the euro zone would be collaborating in the downside
As of writing, the cross is losing 0.43% at 1.5694 with the next support at 1.5678 (low Aug.20) followed by 1.5674 (low Aug.17) and finally 1.5667 (61.8% of 1.5269-1.6310).
On the flip side, a breakout of 1.5795 (hourly high Jan.28) would open the door to 1.5852 (high Jan.24) en route to 1.5876 (MA10d).
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