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GBP/USD falls below 1.6000; first time in 11 months

FXStreet (San Francisco) - The Sterling's decline versus the US Dollar continues as the USD buyers are extending positions now below the 1.6000 level. The GBP/USD is trading at lows since November 2013 around 1.5970.

Currently, GBP/USD is trading at 1.5979, down 0.99% on the day, having posted a daily high at 1.6161 and low at 1.5977. The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.

GBP/USD levels

If the pair consolidates levels below 1.5980, next frontiers will be 1.5950 and 1.5915. On the upside, resistances are at 1.6000, 1.6060 and 1.6110.

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