11 Dec 2013
GBP/USD resumes decline
FXstreet.com (Córdoba) - The recovery of the GBP/USD faltered at the 1.6410 area, with the Cable coming under renewed pressure and slumping to fresh lows as a bout of risk aversion hit markets.
GBP/USD hits fresh lows
The GBP/USD turned back south and broke below the 1.6365 zone, previous daily lows, sliding to a trough of 1.6339 before finding support as stocks hit session lows in Wall Street. At time of writing, the GBP/USD is trading at the 1.6360 zone, recording a 0.5% loss on the day and extending its pullback from a 2-year peak of 1.6465 struck Tuesday.
GBP/USD levels to watch
In terms of technical levels, the GBP/USD could find immediate supports at 1.6339 (daily low), 1.6322 (Dec 9 low) and 1.6300 (psychological level). On the upside, resistances are now seen at 1.6410 (intraday level), 1.6457 (daily high) and 1.6465 (Dec 10 high).
GBP/USD hits fresh lows
The GBP/USD turned back south and broke below the 1.6365 zone, previous daily lows, sliding to a trough of 1.6339 before finding support as stocks hit session lows in Wall Street. At time of writing, the GBP/USD is trading at the 1.6360 zone, recording a 0.5% loss on the day and extending its pullback from a 2-year peak of 1.6465 struck Tuesday.
GBP/USD levels to watch
In terms of technical levels, the GBP/USD could find immediate supports at 1.6339 (daily low), 1.6322 (Dec 9 low) and 1.6300 (psychological level). On the upside, resistances are now seen at 1.6410 (intraday level), 1.6457 (daily high) and 1.6465 (Dec 10 high).