Forex: GBP/USD tumbles to fresh lows
Forex pairs in this Article »
GBP/USD
FXstreet.com (Córdoba) - After a short-lived recovery, GBPUSD was rejected from the 1.6040 area and turned lower after the latest string of US data showed jobless claims fell to 335K, beating estimates at 365K and housing starts rose by 0.954M during December.
GBPUSD lost over 80 pips within the last minutes and slid to its lowest level in 7 weeks at 1.5954 as it triggered stops below 1.5975 (yesterday's low). At time of writing, GBPUSD is quoting at the 1.5970 zone, down 0.2% on the day.
If the cross extends losses below 1.5950, next supports could be found at 1.5920 (Nov 22 low) and 1.5900 (psychological level). Resistances are now seen at 1.6000, 1.6040 (intraday high) and 1.6070 (10-day SMA).
GBPUSD lost over 80 pips within the last minutes and slid to its lowest level in 7 weeks at 1.5954 as it triggered stops below 1.5975 (yesterday's low). At time of writing, GBPUSD is quoting at the 1.5970 zone, down 0.2% on the day.
If the cross extends losses below 1.5950, next supports could be found at 1.5920 (Nov 22 low) and 1.5900 (psychological level). Resistances are now seen at 1.6000, 1.6040 (intraday high) and 1.6070 (10-day SMA).
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