GBP/USD falls further near 1.4530

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The selling interest is picking up further pace around the British pound today, now sending GBP/USD to fresh multi-year lows around 1.4530.

    GBP/USD weaker on risk-off trade, EUR/GBP

    The increasing risk aversion in the global markets keeps hurting the sterling on Wednesday, sending spot to trade in the 1.4540/30 band, levels last seen in June 2010.

    Furthermore, the upside pressure in EUR/GBP keeps gathering traction following a bid tone in the single currency, adding to the daily decline in GBP/USD.

    GBP/USD important levels

    The pair is now retreating 0.62% at 1.4540 and a breach of 1.4500 (psychological level) would open the door to 1.4346 (low Jun.8 2010) and then 1.4229 (low May 20 2010). On the flip side, the next up barrier aligns at 1.4947 (high Dec.24) ahead of 1.5072 (55-day sma) and finally 1.5240 (high Dec.12).
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