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GBP/USD moves toward 1.4800

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The British pound is among the worst performers on Tuesday, being the only major currency facing daily losses against the greenback, as this latter weakened further following a series of disappointing US data.

    GBP/USD came under renewed pressure during the European session and broke below the 1.4860/50 support zone to hit its lowest level since in over 8 months at 1.4806 in recent dealings, despite the dollar is not performing well itself today.

    GBP/USD key levels

    At time of writing, the pair is trading at 1.4813, 0.46% below its opening price, with immediate supports seen at 1.4700 (Apr 15 low/psychological level) and 1.4634 (Mar 18 low). On the flip side, resistances could be found at the 1.4900/06 area (psychological level/Dec 22 high) and 1.4949 (Dec 18 high) ahead of 1.5007 (Dec 17 high).
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