GBP/USD falls to fresh 6-week lows

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The GBP/USD is posting fresh 6-week lows during the European session, as the dollar continues to rise across the board supported by upbeat domestic consumer confidence data and ongoing geopolitical worries.



The GBP/USD broke below 1.6941 (50.0% Fibo of 1.6692/1.7190) and was dragged to a fresh low of 1.6927, last seen June 18. The Cable is currently trading at the 1.6930 zone, 0.07% below its opening price, as investors await US ADP, 2Q GDP flash and the FOMC decision.



GBP/USD technical levels



As for technical levels, next supports are seen at 1.6919 (Jun 18 low) and 1.6900 (psychological level). On the other hand, resistances could be found at 1.6970 (50-day SMA), 1.7000 (psychological level/Jul 28 high) and 1.7017 (10-day SMA).



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