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GBP/USD rebounds after reaching 11-month low

FXStreet (Córdoba) - GBP/USD reverse sharply and fell from 1.6066 to 1.5874 reaching the lowest price since November 2013. Dollar weakness across the board pushed the pair to the upside, but afterward reversed sharply and turned to the downside.

After pulling back below 1.5900, dropped to 1.5874; where it rebounded, rising back above 1.5900. Ahead of the closing bell in Wall Street the pair trades around 1.5920/30, slightly higher for the day and 140 pips below daily highs.

GBP remains weak

The pound and the US dollar are among the worst performers on the currency market on Wednesday. Cable’s weakness remains intact across the board as its falling for the third day in a row with EUR/GBP trading at 1-month highs above 0.8030, GBP/JPY under 169.00 at 6-month low and GBP/CHF below 1.5000 for the first time in a month.

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EUR/JPY support remains firm at 135.20

EUR/JPY is trading at 135.48, down -0.02% on the day, having posted a daily high at 136.09 and low at 135.13.
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