OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD falls to 6-day lows

FXStreet (Córdoba) - The GBP/USD extended losses to fresh lows at the beginning of the European session, as the pair triggered stops on the break through the 1.6575 support area.

With the US dollar firmer across the board, the Cable lost the 1.6600 level during the Asian session and accelerated the decline, falling to the lowest in 6 days at 1.6553 in recent dealings.

At time of writing, the GBP/USD is trading at 1.6560, 0.27% below its opening price. Next on tap today, the UK construction PMI for August will be released.

GBP/USD technical levels

As for technical levels, the GBP/USD could find immediate supports at 1.6535 (Aug 25 low), 1.6505 (psychological level) and 1.6464 (Mar 24 low). On the flip side, resistances are now seen at 1.6643 (Sep 1 high), 1.6671 (21-day SMA) and 1.6691 (200-day SMA).

US August ISM Manufacturing PMI is likely to fall - ING

James Knightley from ING believes that the weak European and Asian PMIs for August suggest that the US ISM Manufacturing could also drop, to 56.4 from 57.1 seen in July.
Read more Previous

Ukraine is back to the headlines – Danske Bank

Geopolitical jitters around Russia and Ukraine seem to be re-emerging, commented Morten Helt, Senior Analyst at Danske Bank....
Read more Next
Start livechat