13 Dec 2013
GBP/USD prints fresh December lows
FXstreet.com (Córdoba) - The GBP/USD slumped to a 2-week low during the European session as losses accelerated on the break of 1.6300.
The GBP/USD lost nearly 50 pips in a matter of minutes as it triggered stops orders and fell to a low of 1.6277, last seen Nov 28. At time of writing, the Cable is trading at the 1.6285 zone, recording a 0.4% decline on the day. MPC member Dale is scheduled to speak later on the day, while the US will publish November PPI figures.
GBP/USD technical levels
On the downside, the 1.6250 area is immediate support for the GBP/USD followed by 1.6239 (Nov 25 high) and 1.6200 (psychological level). On the other hand, resistances are now seen at 1.6360 (daily high), 1.6400 (psychological level) and 1.6417 (Dec 12 high).
The GBP/USD lost nearly 50 pips in a matter of minutes as it triggered stops orders and fell to a low of 1.6277, last seen Nov 28. At time of writing, the Cable is trading at the 1.6285 zone, recording a 0.4% decline on the day. MPC member Dale is scheduled to speak later on the day, while the US will publish November PPI figures.
GBP/USD technical levels
On the downside, the 1.6250 area is immediate support for the GBP/USD followed by 1.6239 (Nov 25 high) and 1.6200 (psychological level). On the other hand, resistances are now seen at 1.6360 (daily high), 1.6400 (psychological level) and 1.6417 (Dec 12 high).