24 Jul 2013
GBP/USD falls to fresh daily lows
FXstreet.com (Córdoba) - The GBP/USD fell to fresh daily lows at the beginning of the American session as the greenback strengthened across the board without a clear catalyst other than buying interest.
GBP/USD dropped to 1.5314, scoring its lowest level in 2 days, before bouncing slightly helped by encouraging US manufacturing PMI. At time of writing, GBP/USD is trading at the 1.5335 area, 0.2% below its opening price.
GBP/USD: Short-term indicators turning bearish
From a technical perspective, Valeria Bednarik, chief analyst at Fxstreet.com notes that technical readings have turned bearish in 1- and 4-hour charts, with the price hovering around and ascendant trend line. “A price acceleration below 1.5310 should favor a bearish leg in the pair, looking for a test of the 1.5260 price zone”, says the analyst.
GBP/USD dropped to 1.5314, scoring its lowest level in 2 days, before bouncing slightly helped by encouraging US manufacturing PMI. At time of writing, GBP/USD is trading at the 1.5335 area, 0.2% below its opening price.
GBP/USD: Short-term indicators turning bearish
From a technical perspective, Valeria Bednarik, chief analyst at Fxstreet.com notes that technical readings have turned bearish in 1- and 4-hour charts, with the price hovering around and ascendant trend line. “A price acceleration below 1.5310 should favor a bearish leg in the pair, looking for a test of the 1.5260 price zone”, says the analyst.