GBP/USD falls again but holds above Friday’s lows

By | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The GBP/USD posted the fifth daily decline in a row after ending Tuesday at 1.7060/65, down 0.07% and the lowest daily close for July. Despite falling against the US dollar the Pound was the best performer among European currencies.

During the American session price bottomed at 1.7040 but is was able to hold above Friday’s lows. While to the upside, the area around 1.7065/80 capped the recovery.

GPB/USD under correction mode

The pair continues to move in a bearish correction mode, after being unable to break above 1.7200. Despite falling constantly since last week, the pair accumulates a decline of less than 100 pips.

You May Also Like

Related Forex Analysis
  1. Forex News

    British Pound Vulnerable on Fading Rate Hike Outlook

  2. Forex News

    Forex Top movers: Euro is the leader, but losing steam; USD/RUB extends decline

  3. Forex News

    GBP is soft with mixed technicals - Scotiabank

  4. Forex News

    GBP/USD hovers above 1.5600

  5. Forex News

    GBP/USD dips briefly below 1.5600

Trading Center