GBP/USD finds support above 1.6000

FXStreet (Córdoba) - Cable dropped further against the US dollar and printed a fresh 4-day low at 1.6006. GBP/USD found support above 1.6000 and rebounded, rising back on top of 1.6030. Greenback remains strong in the market as stocks decline in Wall Street.

GBP/USD trims weekly gains

After starting the week around 1.5960 GBP/USD jumped to the upside and on Thursday, boosted by the reaction of the market to the FOMC minutes reached 1.6225. The same day made a reversal that continued Friday.

During the last 24 hours the pair lost more than 200 pips, trimming weekly gains. Still holds above the level it had a week ago but considerably far from the highs.