Forex: GBP/USD tumbles to 7-week lows
Forex pairs in this Article »
GBP/USD
FXstreet.com (Córdoba) - The Cable fell to a fresh 7-week low under 1.6000 ahead of the New York opening as the dollar strengthened across the board, dragging GBPUSD below 1.5990, amid a big day for earnings reports in US.
GBPUSD accelerated losses after breaking below the 1.6000/1.5990 support area, and slid to a low of 1.5975, last seen Nov 28. At time of writing, the pair is trading at the 1.5985 zone, down 0.5% on the day.
As for technical levels, if the GBPUSD breaks below 1.5975, next supports are seen at 1.5962 (Nov 28 low), and 1.5920 (Nov 20 low). On the contrary, resistances in case of bounces are seen at 1.6000 (psychological level), 1.6030 (Jan 15 low) and 1.6070 (200-hour SMA).
GBPUSD accelerated losses after breaking below the 1.6000/1.5990 support area, and slid to a low of 1.5975, last seen Nov 28. At time of writing, the pair is trading at the 1.5985 zone, down 0.5% on the day.
As for technical levels, if the GBPUSD breaks below 1.5975, next supports are seen at 1.5962 (Nov 28 low), and 1.5920 (Nov 20 low). On the contrary, resistances in case of bounces are seen at 1.6000 (psychological level), 1.6030 (Jan 15 low) and 1.6070 (200-hour SMA).
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