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Forex: GBP/USD establishing fresh lows at 1.5243/47

FXstreet.com (Barcelona) - The GBP/USD took a nosedive earlier, after investors digested checkered economic data out of the United Kingdom. In these moments, the cross is establishing fresh session lows at 1.5243/47, down a staunch -0.73% off its opening.

After falling below the 1.5295 support, Mataf.net analysts points to short-term resistances at 1.5231, onto 1.5189. On the decline, the GBP/USD is slated to face short-term resistance at 1.5401 ahead of 1.5443, and finally the 1.5507 handle.

According to the ICN.com Analyst Team, “The GBP/USD remained limited below, 1.5385 keeping the possibility of the downside move valid, as the stochastic offers intraday overbought signals and Linear Regression Indicators still negative. The downside move requires stability below 1.5325 levels.”

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