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Forex pairs in this Article » GBP/USD (Córdoba) - The GBP/USD broke below the 50-day SMA and printed a fresh 2-week low during the New York session as the greenback continues to strengthen across the board.

The GBP/USD has fallen for 6 straight days now, having already undone the rally staged since mid-October. The Cable dropped over 100 pips Friday as break below the 1.6000 mark triggered a strong selloff. At time of writing, GBP/USD is trading at the 1.5920 zone, recording a 0.7% loss Friday, having been as low as 1.5916.

GBP/USD remains bearish

From a technical perspective, Valeria Bednarik, chief analyst at, notes that the short-term outlook remains bearish with 1.5890 past October low as next big bearish target. Immediate supports are now seen at 1.5900 (psychological level) and 1.5890 (Oct 16 low), while resistances could be found at 1.6000 (psychological level) and 1.6030 (21-day SMA).
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