The Pound continues to wane against the American Dollar along the Asian session; the latter currency shows a more combative spirit this week, recovering after being dragged to a new 16-month low late last week just short of 1.6750.
In the past hour, GBP/USD has intensified the selling pressure, moving from an open at 1.6650 to just break 1.6600, hitting a fresh 4-day low in 1.6580. Today's fall represents a loss of 0.42% from yesterday's NY close.
Technically, the confirmed break below 1.6620 should now “signal a downside continuation towards 1.6550/60 price zone, that could extend also near 1.6510 if the market sentiments turns negative” observes Valeria Bednarik, Chief Analyst at Fxstreet.com. “Above 1.6685, pair should find some relief and extend gains back towards 1.6745 price zone” she alos explained.
In the past hour, GBP/USD has intensified the selling pressure, moving from an open at 1.6650 to just break 1.6600, hitting a fresh 4-day low in 1.6580. Today's fall represents a loss of 0.42% from yesterday's NY close.
Technically, the confirmed break below 1.6620 should now “signal a downside continuation towards 1.6550/60 price zone, that could extend also near 1.6510 if the market sentiments turns negative” observes Valeria Bednarik, Chief Analyst at Fxstreet.com. “Above 1.6685, pair should find some relief and extend gains back towards 1.6745 price zone” she alos explained.
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