5 Dec 2014
GBP/USD hits fresh 1-year lows below 1.5600
FXStreet (Córdoba) - After a short lived recovery from 1.5615, GBP/USD resumed the downside, broke below 1.5600 and dropped to 1.5568, reaching a fresh 1-year lows. Greenback remains strong across the board, after a better-than-expected US employment report.
The pair currently trades at 1.5589, a hundred pips below the level it had before NFP, headed toward the lowest close since September 5, 2013.
GBP/USD levels to watch
If the pair manages to consolidate below 1.5600, it would be breaking a barrier that capped the downside during November, opening the door for an extension of the decline.
To the upside, above 1.5600 the immediate resistance could be located at 1.5620 and above here at 1.5650. If the pound manages to climb above 1.5700 it would improve the technical outlook.
The pair currently trades at 1.5589, a hundred pips below the level it had before NFP, headed toward the lowest close since September 5, 2013.
GBP/USD levels to watch
If the pair manages to consolidate below 1.5600, it would be breaking a barrier that capped the downside during November, opening the door for an extension of the decline.
To the upside, above 1.5600 the immediate resistance could be located at 1.5620 and above here at 1.5650. If the pound manages to climb above 1.5700 it would improve the technical outlook.