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GBP/USD at lowest level since May

FXStreet (Córdoba) - GBP/USD broke below 1.5125 and dropped to 1.5105 reaching the lowest level since May 5. Greenback gained momentum against European currencies during the first half of the American session, on the last day on trading of the month and the third quarter.

From the lows the pair rebounded modestly and is trading at 1.5125/30, almost a hundred pips below the highs of the day. On European hours rose to 1.5214 but then turned to the downside. It has been falling constantly during the last five hours. The pound also lost ground versus the yen pushing GBP/JPY to the lowest level in three weeks under 181.00.

Another monthly decline

Cable is about to post the lowest monthly close since March and the third decline in a row. After peaking in 2015 at 1.5929 back in June it lost momentum and resumed the decline. In September lost approximately 250 pips so far. Still remains far from the lows of the year that lie at 1.4565.

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