1 Aug 2013
GBP/USD tumbles to session lows
FXstreet.com (New York) - The GBP/USD foreign exchange could not sustain its recovery, having stalled at the 1.5170 region, which subsequently turned lower in recent moments to fresh lows.
At the time of writing, the GBP/USD is now operating at 1.5134, suffering a sizable decline of -0.43% off its opening. Technically speaking, the GBP/USD remains fortified by supports at 1.5125 ahead of 1.5080, and finally 1.5051, notes the Danske Research Team.
GBP/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The GBP/USD came under increasing downside pressure yesterday and has sold off to its 50% retracement at 1.5123 – this has held the initial test but is regarded as exposed, we look for it to be eroded for losses to the 1.5015 May low then 1.4854/32 support zones.”
At the time of writing, the GBP/USD is now operating at 1.5134, suffering a sizable decline of -0.43% off its opening. Technically speaking, the GBP/USD remains fortified by supports at 1.5125 ahead of 1.5080, and finally 1.5051, notes the Danske Research Team.
GBP/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The GBP/USD came under increasing downside pressure yesterday and has sold off to its 50% retracement at 1.5123 – this has held the initial test but is regarded as exposed, we look for it to be eroded for losses to the 1.5015 May low then 1.4854/32 support zones.”