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27 Aug 2015
GBP/USD drops below 1.5400 to fresh 7-week low
FXStreet (Córdoba) - GBP/USD is testing new lows for the days as the dollar continues to strengthen on the back of strong GDP, employment and housing data which eased fears the Fed might have to wait before raising rates.
GBP/USD broke below the 1.54 mark and dipped to its lowest level since July 10 at 1.5383 in recent dealings. At time of writing, the pair is trading at 1.5390, recording a 0.41% loss on the day and more than 400 pips below its Monday peak of 1.5818.
GBP/USD levels to watch
As for technical levels, next supports are seen at 1.5369 (200-day SMA), 1.5330 (Jul 8 low) and 1.5300 (psychological level). On the other hand, resistances could be found at 1.5468 (100-day SMA), 1.5507 (Aug 27 high) and 1.5544 (Aug 7 high).
GBP/USD broke below the 1.54 mark and dipped to its lowest level since July 10 at 1.5383 in recent dealings. At time of writing, the pair is trading at 1.5390, recording a 0.41% loss on the day and more than 400 pips below its Monday peak of 1.5818.
GBP/USD levels to watch
As for technical levels, next supports are seen at 1.5369 (200-day SMA), 1.5330 (Jul 8 low) and 1.5300 (psychological level). On the other hand, resistances could be found at 1.5468 (100-day SMA), 1.5507 (Aug 27 high) and 1.5544 (Aug 7 high).