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Forex pairs in this Article » EUR/GBP, GBP/USD
FXstreet.com (Barcelona) - The GBPUSD kept sliding down across the chart after failing at holding above 1.6120 zone during the London session. Having lost the 1.6100 handle, the pair went further down to test 1.6032/40 low area, still holding as of writing.

The British Pound is weak, and the pair has been under pressure today as investors are long on the EURGBP. At the moment, the GBPUSD trades at 1.6050 zone ahead of US President Obama speech, as well as Fed Bernanke's later on the day.

"Trading is caught in a tight range below 1.6175 high and the lack of trend dynamics here justifies one more downswing for 1.6070 support area before rally towards 1.6205"; wrote Deltastock.com analyst Stoyan Mihaylov.
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