Forex: GBP/USD erases weekly gains
FXstreet.com (Córdoba) - The Cable came under strong pressure during the New York session Friday, and having dropped over 160 pips throughout the day and broken several support levels, it recently printed a low of 1.5706.
GBPUSD erased on Friday all weekly gains that it had obtained with great effort, mainly weighed by the EURGBP rise. GBPUSD is currently trading at the 1.5710/15 zone, down 0.9% on the day and on track to close the week with a 0.6% loss.
As for technical levels, immediate supports are seen 1.5700, 1.5675 (low Jan 28) and 1.5650. On the other hand, resistances could be found at 1.5775 (100-hour SMA), 1.5800 (psychological level) and 1.5850.
GBPUSD erased on Friday all weekly gains that it had obtained with great effort, mainly weighed by the EURGBP rise. GBPUSD is currently trading at the 1.5710/15 zone, down 0.9% on the day and on track to close the week with a 0.6% loss.
As for technical levels, immediate supports are seen 1.5700, 1.5675 (low Jan 28) and 1.5650. On the other hand, resistances could be found at 1.5775 (100-hour SMA), 1.5800 (psychological level) and 1.5850.
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