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12 Mar 2015
GBP/USD drops further, eyes 2013 lows
FXStreet (Córdoba) - Cable extended the decline below 1.4900 and printed a fresh 20-month low at 1.4850 as the pound continued to dropped across the board.
Near the end of trading in New York, the GBP/USD pair trades at 1.4852, down 0.50% for the day, headed the third daily decline in a row and the lowest close since 2010 despite the decline of the dollar in the market and weak US data. Tomorrow no economic data from the United Kingdom will be released and in the US the PPI for February will be published.
GBP/USD levels to watch
To the downside, support could be located at 1.4830 (March 2013 low), 1.4800 and 1.4780. On the opposite direction resistance might lie at 1.4890 (March 11 low), 1.4940 and 1.5020/25 (daily high).
Near the end of trading in New York, the GBP/USD pair trades at 1.4852, down 0.50% for the day, headed the third daily decline in a row and the lowest close since 2010 despite the decline of the dollar in the market and weak US data. Tomorrow no economic data from the United Kingdom will be released and in the US the PPI for February will be published.
GBP/USD levels to watch
To the downside, support could be located at 1.4830 (March 2013 low), 1.4800 and 1.4780. On the opposite direction resistance might lie at 1.4890 (March 11 low), 1.4940 and 1.5020/25 (daily high).