Forex: GBP/USD extends decline below 1.5500

FXstreet.com (Córdoba) - The Cable slumped toward the 1.5500 area as the greenback strengthened across the board at the beginning of the NY session. With no clear catalyst, GBP/USD lost over 60 pips in a matter of minutes and fell to a low of 1.5485 before finding support.

At time of writing, GBP/USD is trading at the 1.5490 zone, recording a 0.3% loss on the day. In terms of technical levels, next supports could be found at 1.5470 (low May 8) and 1.5445 (low May 7). On the upside, resistances are now see at 1.5530 (100- and 200-hour SMA) followed by 1.5585 (daily high).