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Sep 2, 2014
GBP/USD breaks below 1.6500
FXStreet (Córdoba) - The GBP/USD was dragged lower by a another wave of dollar demand after ISM manufacturing PMI came in stronger-than-expected.
The GBP/USD broke below the 1.6500 mark and slid to fresh 5-month lows at 1.6489. Sentiment toward the Sterling was already negative, despite solid UK construction data, amid jitters ahead of the Scottish independence referendum.
GBP/USD levels to watch
At time of writing, the GBP/USD is trading at the 1.6495 area, having already lost more than 100 pips throughout the day. Immediate supports are now seen at 1.6480 (Mar 25 low), 1.6464 (Mar 24 low) and 1.6425 (Feb 12 low). On the other hand, resistances could be found at 1.6579 (200-hour SMA), 1.6612 (Aug 27 & 28 highs) and 1.6645 (Sep 1 high).
The GBP/USD broke below the 1.6500 mark and slid to fresh 5-month lows at 1.6489. Sentiment toward the Sterling was already negative, despite solid UK construction data, amid jitters ahead of the Scottish independence referendum.
GBP/USD levels to watch
At time of writing, the GBP/USD is trading at the 1.6495 area, having already lost more than 100 pips throughout the day. Immediate supports are now seen at 1.6480 (Mar 25 low), 1.6464 (Mar 24 low) and 1.6425 (Feb 12 low). On the other hand, resistances could be found at 1.6579 (200-hour SMA), 1.6612 (Aug 27 & 28 highs) and 1.6645 (Sep 1 high).