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GBP/USD holds near daily lows

FXStreet (Córdoba) - GBP/USD bottomed during the European session at 1.5617, less than 30 pips above Friday’s lows after falling more than a hundred pips from the highs.

GBP/USD recovery short lived

Cable approached daily lows after Wall Street opening bell as the US dollar gained momentum across the board. The pair rebound modestly from the lows but found resistance at 1.5660. Currently trades at 1.5625/30, 0.25% down for the day.

The pair reversed significantly, showing that weakness still persist. It fell from the highest price since last Thursday, approaching multi-year lows in a few hours. On Friday, GBP/USD posted the lowest weekly close since September 2013.

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