23 Aug 2013
GBP/USD slumps to 1-week low
FXstreet.com (Córdoba) - The GBP/USD failed to sustain gains and pulled back sharply from daily highs after finding resistance at the 100-hour SMA.
GBP/USD turns negative
GBP/USD found some respite during the European session after the Q2 UK GDP was revised up to 0.7% from the flash estimate of 0.6%, but the momentum was short-lived and the pair surrendered gains most recently.
GBP/USD has dropped more than 80 pips within the last hours, accelerating the decline on the break of 1.5590. The pair has fallen to an 8-day low of 1.5545, where it is 0.2% down on the day.
GBP/USD technical levels
If GBP/USD breaks decisively below the 1.5545 zone next supports could be found at 1.5515 (200-day SMA) and 1.5500 (psychological level). On the other hand, resistances are now seen at 1.5635 (100-hour SMA) and 1.5660 (Aug 22 high).
GBP/USD turns negative
GBP/USD found some respite during the European session after the Q2 UK GDP was revised up to 0.7% from the flash estimate of 0.6%, but the momentum was short-lived and the pair surrendered gains most recently.
GBP/USD has dropped more than 80 pips within the last hours, accelerating the decline on the break of 1.5590. The pair has fallen to an 8-day low of 1.5545, where it is 0.2% down on the day.
GBP/USD technical levels
If GBP/USD breaks decisively below the 1.5545 zone next supports could be found at 1.5515 (200-day SMA) and 1.5500 (psychological level). On the other hand, resistances are now seen at 1.5635 (100-hour SMA) and 1.5660 (Aug 22 high).