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Forex: GBP/USD hits fresh 3-week low

FXstreet.com (Córdoba) - The British pound remains under pressure on Tuesday, and having broken below the 1.5270 support area, it recently hit a fresh 3-week low versus the dollar.

GBP/USD was rejected from a daily high of 1.5330 at the beginning of the European session and following an over 100-pip slide, it recently printed a low o 1.5227 before finding support. At time of writing, GBP/USD is trading around 1.5250, 0.3% below its opening price.

According to Valeria Bednarik, chief analyst at FXstreet.com, the pair holds a negative bias, with scope now for an approach to the 1.5210 area, 50% retracement of the latest bullish run. Bednarik locates immediate support levels at 1.5210 and 1.5170, while she places resistances at 1.5310, 1.5340 and 1.5390.

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