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9 Apr 2015
GBP/USD falls below 1.4700
FXStreet (Córdoba) - GBP/USD has continued to fall during the American session, breaking below the 1.47 mark to hit its lowest level in 3 weeks amid broad dollar strength.
Cable has lost more than 150 pips over the last hours and hit a low of 1.4683, last seen March 18 when GBP/USD scored a nearly 5-year low at 1.4634. At time of writing, the pair is trading at 1.4693, recording a 1.16% loss on the day. A close below 1.4744 would be the lowest closing level since 2010.
GBP/USD technical levels
In terms of technical levels, immediate supports are seen at 1.4683 (daily low), 1.4634 (Mar 18 low) and 1.4600 (psychological level). On the flip side, resistances on bounces could be found at 1.4760 (intraday level) and 1.4840 (21-day SMA).
Valeria Bednarik, chief analyst at FXStreet notes that “the pair maintains a strong bearish bias in the short term, with the 1 hour chart showing that the 20 SMA turned sharply lower above the current level, whilst the technical indicators continue to head lower, despite in oversold territory”.
Cable has lost more than 150 pips over the last hours and hit a low of 1.4683, last seen March 18 when GBP/USD scored a nearly 5-year low at 1.4634. At time of writing, the pair is trading at 1.4693, recording a 1.16% loss on the day. A close below 1.4744 would be the lowest closing level since 2010.
GBP/USD technical levels
In terms of technical levels, immediate supports are seen at 1.4683 (daily low), 1.4634 (Mar 18 low) and 1.4600 (psychological level). On the flip side, resistances on bounces could be found at 1.4760 (intraday level) and 1.4840 (21-day SMA).
Valeria Bednarik, chief analyst at FXStreet notes that “the pair maintains a strong bearish bias in the short term, with the 1 hour chart showing that the 20 SMA turned sharply lower above the current level, whilst the technical indicators continue to head lower, despite in oversold territory”.