14 Apr 2014
GBP/USD hits lows sub-1.6700
FXStreet (Córdoba) - The GBP/USD extended its correction lower Monday although at a slower pace, with solid US retail sales data dragging the pair to fresh lows at the beginning of the American session.
The GBP/USD pierced below the 1.6700 mark and printed a fresh 6-day low of 1.6696 before finding support. US retail sales grew 1.1% in March, beating the 0.8% rise expected, while excluding autos, it rose 0.7% versus 0.5% expected, giving the greenback a boost.
GBP/USD technical levels
At time of writing, the Cable is trading at 1.6700, down 0.2% on the day, with immediate supports seen at 1.6695 (Apr 14 low), 1.6679 (10-day SMA) and 1.6622 (21-day SMA). On the upside, resistances could be found at 1.6743 (Apr 14 high), 1.6786 (Apr 11 high) and 1.6819 (Apr 10 high).
The GBP/USD pierced below the 1.6700 mark and printed a fresh 6-day low of 1.6696 before finding support. US retail sales grew 1.1% in March, beating the 0.8% rise expected, while excluding autos, it rose 0.7% versus 0.5% expected, giving the greenback a boost.
GBP/USD technical levels
At time of writing, the Cable is trading at 1.6700, down 0.2% on the day, with immediate supports seen at 1.6695 (Apr 14 low), 1.6679 (10-day SMA) and 1.6622 (21-day SMA). On the upside, resistances could be found at 1.6743 (Apr 14 high), 1.6786 (Apr 11 high) and 1.6819 (Apr 10 high).