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Forex pairs in this Article » GBP/USD (New York) - The GBP/USD foreign exchange rate has continued weakening during US trading Thursday, still operating above earlier lows at 1.5060.

GBP/USD closed below key support recently

At the time of writing, the GBP/USD is trading at 1.5071, incurring a sizable decline of -1.36% during US trading. According to Gareth Berry, a Research Analyst at UBS, “The GBP/USD closed yesterday below the key support at 1.5183. This was a strong bearish development, exposing 1.5009. Resistance is at 1.5279, suggesting a bearish outlook.”

GBP/USD poised for rebound?

According to Karen Jones, an analyst at Commerzbank, “The GBP/USD has reversed just below the 1.5091 support line and in fact charted a key day reversal. This suggests that the down move has ended for now and we are likely to see a near-term rebound.”
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