29 Jul 2013
GBP/USD extends decline to fresh lows
FXstreet.com (Córdoba) - The GBP/USD extended losses during the New York session and printed fresh lows weighed by a negative opening in Wall Street.
GBP/USD hits fresh lows
Following a brief rise above 1.5400, GBP/USD came under pressure amid broad USD strength and dropped to a fresh daily low of 1.5327 before bouncing slightly. At time of writing, GBP/USD is trading around 1.5340, 0.2% below its opening price.
GBP/USD: 1.5300 key support
"The hourly chart presents a strong bearish tone, while the 4 hours chart shows indicators heading south right above their midlines and price stuck around its 20 SMA, maintaining a quite neutral stance", says Valeria Bednarik, chief analyst at FXstreet.com. "Price accelerations below current levels should lead to a test of the 1.5300 area, where buyers should halt any attempt of ease further".
GBP/USD hits fresh lows
Following a brief rise above 1.5400, GBP/USD came under pressure amid broad USD strength and dropped to a fresh daily low of 1.5327 before bouncing slightly. At time of writing, GBP/USD is trading around 1.5340, 0.2% below its opening price.
GBP/USD: 1.5300 key support
"The hourly chart presents a strong bearish tone, while the 4 hours chart shows indicators heading south right above their midlines and price stuck around its 20 SMA, maintaining a quite neutral stance", says Valeria Bednarik, chief analyst at FXstreet.com. "Price accelerations below current levels should lead to a test of the 1.5300 area, where buyers should halt any attempt of ease further".