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GBP/USD nears 8-month lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - GBP/USD dropped to fresh daily lows during the American session, with the pound as one of the worst performers in the FX market.

    GBP/USD made an attempt to the upside but it found resistance at the 1.4925 zone and pulled back, sliding to a fresh low of 1.4875 in recent dealings. At time of writing, the pair is trading at 1.4880, down 0.16% on the day, and not far from an 8-month low of 1.4863 struck last week.

    The Sterling is also on the defensive against the euro and the yen, with EUR/GBP at 2-month highs above 0.7300 and GBP/JPY testing the 180.00 support area and sliding toward the 100-week SMA.

    GBP/USD key levels

    If GBP/USD breaks below 1.4863 (8-month low, Dec 18), next supports could be faced at 1.4855 (Apr 21 low) and 1.4810 (Apr 16 low). On the other hand, resistance are seen at 1.4949 (Dec 18 high), 1.5000/07 (psychological level/Dec 17 high), 1.5060 (21-day SMA) and 1.5100 (psychological level).
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