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2 Jan 2015
GBP/USD extends decline below 1.5400
FXStreet (San Francisco) - The Sterling is extending its decline versus the Dollar as the pair broke below the 1.5400 level to price at fresh lows since August 2013 at 1.5385.
Currently, GBP/USD is trading at 1.5404, down 1.13% on the day, having posted a daily high at 1.5588 and low at 1.5386. The hourly FXStreet OB/OS Index is showing extremely oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
GBP/USD Sentiment
According to Mike Paterson from ForexLive, "traders were quick to seize on the weaker UK data though and larger fines being levied on RBS."
If the pair consolidates levels below 1.5400, it will find supports at 1.5380, 1.5350 and 1.5300. To the upside, resistances are at 1.5410, 1.5450 and 1.5500.
Currently, GBP/USD is trading at 1.5404, down 1.13% on the day, having posted a daily high at 1.5588 and low at 1.5386. The hourly FXStreet OB/OS Index is showing extremely oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
GBP/USD Sentiment
According to Mike Paterson from ForexLive, "traders were quick to seize on the weaker UK data though and larger fines being levied on RBS."
If the pair consolidates levels below 1.5400, it will find supports at 1.5380, 1.5350 and 1.5300. To the upside, resistances are at 1.5410, 1.5450 and 1.5500.