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GBP/USD falls below 1.4400, first time since 2010

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - GBP/USD extended weakness into the American session and fell below the 1.4400 mark for first time since June 2010.

    There is no respite for the pound that remains amid the worst performers across the board weighed by disappointing manufacturing data published earlier on Tuesday. In the longer term, policy divergence and uncertainty surrounding a possible Brexit have been pressuring the Cable.

    GBP/USD fell to a 5 ½-year low of 1.4378 in recent dealings and it was last trading at 1.4390, recording a 1.03% daily lows.

    Meanwhile, BoE Governor Carney was speaking at a symposium in Paris. He noted that household debt is an indirect risk to economy and vigilance is required.

    GBP/USD levels to watch

    On the downside, next supports are seen at 1.4345 (monthly low Jun 2010), 1.4300 (psychological level) and 1.4229 (monthly low May 2010). On the upside, short-term resistances could be faced at 1.4644 (10-day SMA) and 1.4790 (20-day SMA).
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