GBP/USD falls below 1.6000; first time in 11 months

FXStreet (San Francisco) - The Sterling's decline versus the US Dollar continues as the USD buyers are extending positions now below the 1.6000 level. The GBP/USD is trading at lows since November 2013 around 1.5970.

Currently, GBP/USD is trading at 1.5979, down 0.99% on the day, having posted a daily high at 1.6161 and low at 1.5977. The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.

GBP/USD levels

If the pair consolidates levels below 1.5980, next frontiers will be 1.5950 and 1.5915. On the upside, resistances are at 1.6000, 1.6060 and 1.6110.

Oct 3, 2014

BoE expected to remain on hold in October - RBS

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