GBP/USD breaks below 1.5900

FXStreet (San Francisco) - Sterling fell to operate below the level of 1.5900 against the dollar after positive data on US jobless claims and the start of Mario Draghi's press conference. He will not resign, in fact, Draghi is challenging the challengers.

After falling 110 pips from intraday at 1.6000, GBP/USD broke below 1.5900 area to 1.5890. Currently, GBP/USD is trading at 1.5910, down -0.39% on the day, having posted a daily high at 1.6004 and low at 1.5891.

GBP/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.

GBP/USD levels

If the pair consolidates below 1.5900, it will face next supports at 1.5880 and 1.5865. To the upside, resistances are at 1.5940, 1.5950 and 1.6000.