Our best spreads and conditions
Learn more
Forex News
Back
1 Feb 2013
Forex: GBP/USD erases weekly gains
The Cable came under strong pressure during the New York session Friday, and having dropped over 160 pips throughout the day and broken several support levels, it recently printed a low of 1.5706.
GBP/USD erased on Friday all weekly gains that it had obtained with great effort, mainly weighed by the EUR/GBP rise. GBP/USD is currently trading at the 1.5710/15 zone, down 0.9% on the day and on track to close the week with a 0.6% loss.
As for technical levels, immediate supports are seen 1.5700, 1.5675 (low Jan 28) and 1.5650. On the other hand, resistances could be found at 1.5775 (100-hour SMA), 1.5800 (psychological level) and 1.5850.
GBP/USD erased on Friday all weekly gains that it had obtained with great effort, mainly weighed by the EUR/GBP rise. GBP/USD is currently trading at the 1.5710/15 zone, down 0.9% on the day and on track to close the week with a 0.6% loss.
As for technical levels, immediate supports are seen 1.5700, 1.5675 (low Jan 28) and 1.5650. On the other hand, resistances could be found at 1.5775 (100-hour SMA), 1.5800 (psychological level) and 1.5850.