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2 Jan 2014
GBP/USD extends decline to 1-week low at 1.6410
FXstreet.com (San Francisco) - The Pound is extending its rejection at 1.6600 against the US Dollar as the GBP/USD has broken the 1.6460 support to reach a fresh 1-week low at 1.6410.
Currently, the Sterling to Dollar exchange rate is moving around 1.6430, 0.83% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral and the RSI is bullish.
USD/GBP bias
"After breaking support in the 1.6455 area a short while ago, cable should fall another 1 to 1.5 cents in the days ahead, on a measured-move basis," comments Jamie Coleman from FXBeat. "Selling rallies toward 1.3450/55 looks the way to play."
Bellow the 1.6400, the GBP/USD would face supports at 1.6370 and 1.6315. On the upside, resistances are at 1.6530, 1.6545 and 1.6600.
Currently, the Sterling to Dollar exchange rate is moving around 1.6430, 0.83% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral and the RSI is bullish.
USD/GBP bias
"After breaking support in the 1.6455 area a short while ago, cable should fall another 1 to 1.5 cents in the days ahead, on a measured-move basis," comments Jamie Coleman from FXBeat. "Selling rallies toward 1.3450/55 looks the way to play."
Bellow the 1.6400, the GBP/USD would face supports at 1.6370 and 1.6315. On the upside, resistances are at 1.6530, 1.6545 and 1.6600.