23 Sep 2015
GBP/USD extends decline to fresh 2-week lows
FXStreet (Córdoba) - GBP/USD has continued to edge lower, sliding below the 1.53 mark to post fresh 2-week lows ahead of the Wall Street opening bell.
The pound is among the worst performers of the week, having lost nearly 400 pips from Friday’s highs amid speculation the BoE may have to delay the rate hike.
GBP/USD broke below 1.5300 and fell to its lowest since Sep 7 at 1.5262 in recent dealings. At time of writing, the pair is trading at 1.5270, recording a 0.59% loss on the day.
On a relatively light data day, September Markit manufacturing PMI is the only major release on the docket.
GBP/USD levels to watch
As for technical levels, GBP/USD could find immediate supports at 1.5200 (psychological level) and 1.5164 (Sep 23 low). On the other hand, resistances are seen at 1.5340 (200-day SMA) and 1.5365 (Sep 23 high).
The pound is among the worst performers of the week, having lost nearly 400 pips from Friday’s highs amid speculation the BoE may have to delay the rate hike.
GBP/USD broke below 1.5300 and fell to its lowest since Sep 7 at 1.5262 in recent dealings. At time of writing, the pair is trading at 1.5270, recording a 0.59% loss on the day.
On a relatively light data day, September Markit manufacturing PMI is the only major release on the docket.
GBP/USD levels to watch
As for technical levels, GBP/USD could find immediate supports at 1.5200 (psychological level) and 1.5164 (Sep 23 low). On the other hand, resistances are seen at 1.5340 (200-day SMA) and 1.5365 (Sep 23 high).