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15 May 2014
GBP/USD dips to fresh 1-month low
FXStreet (Córdoba) - The GBP/USD came under renewed pressure and resumed its decline following a phase of consolidation as the dollar catches a bid at the European opening.
The GBP/USD finally pierced below the 1.6750 level and dipped to a fresh 1-month low of 1.6743, extending its pullback from multi-year highs reached last week just below 1.7000. There are no major indicators scheduled for the UK today, but investors will be watching US CPI and jobless claims.
GBP/USD technical level
At time of writing, the Cable is trading at the 1.6745 zone, recording a 0.10% loss on the day, with next supports seen at 1.6722 (50-day SMA) and 1.6700 (psychological level) ahead of 1.6669 (Apr 15 low). On the flip side, resistances could be found at 1.6776 (May 15 high), 1.6800 (psychological level) and 1.6839 (20-day SMA).
The GBP/USD finally pierced below the 1.6750 level and dipped to a fresh 1-month low of 1.6743, extending its pullback from multi-year highs reached last week just below 1.7000. There are no major indicators scheduled for the UK today, but investors will be watching US CPI and jobless claims.
GBP/USD technical level
At time of writing, the Cable is trading at the 1.6745 zone, recording a 0.10% loss on the day, with next supports seen at 1.6722 (50-day SMA) and 1.6700 (psychological level) ahead of 1.6669 (Apr 15 low). On the flip side, resistances could be found at 1.6776 (May 15 high), 1.6800 (psychological level) and 1.6839 (20-day SMA).