GBP/USD back below 1.6800, fresh 2-month lows

By FXstreet.com | Updated August 08, 2014 AAA

FXStreet (Córdoba) - The GBP/USD remains under pressure and is back testing levels below 1.6800 at the beginning of the New York session,having printed a fresh 2-month low in recent dealings.



The GBP/USD fell through the 1.6800/1.6795 area and hit a low of 1.6786 so far as GBP bears are giving a final push before the weekend as the EUR/GBP extends gains. At time of writing, the GBP/USD is trading at the 1.6790 area, recording a 0.23% loss on the day.



The GBP/USD is on track to close its fifth consecutive week with losses, after being strongly rejected from 6-years highs at the 1.7190 area on the back of worsening UK data and lower preospects the BoE might hike rates before the year-end.



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