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Forex: GBP/USD falls to intraday lows on Draghi’s speech

FXstreet.com (San Francisco) - The Sterling is currently trading lower against the US Dollar following the ECB's president Mario Draghi conference press. The GBP/USD has fallen around 55 pips in the latest hour from 1.5585 to break down the 1.5540 support and to trade at intra-day lows at 1.5530.

ECB President Mario Draghi said the bank is technically ready for negative deposit rate if it decides to act. Draghi highlights that the ECB will look at this with "open mind".

Currently the GBP/USD is trading at 1.5535, 0.15% negative on the day. The Cable is strongly bearish according to the FXstreet.com trend index with indicators such as MACD, CCI and Momentum pointing to the south while the Stochastic is bullish.

Below the 1.5530, next supports are at 1.5525 and 1.5475. On the upside, resistances are at 1.5570, 1.5590 and 1.5605.

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