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29 Dec 2014
GBP/USD turns negative
FXStreet (Córdoba) - The GBP/USD pair erased gains and dropped to 1.5533, reaching the lowest price since last Wednesday. Currently trades at 1.5545, down 0.05% for the day.
Earlier the pair climbed to 1.5585, but the mentioned level offered resistance and it turned to the downside.
The pound is also losing ground against the euro and the Swiss franc on Monday, despite the fact that the Greek Parliament failed to elect a new president triggering snap elections and more uncertainty.
GBP/USD breaks short term dynamic support
The recent slide from 1.5585 to 1.5535 pushed the pair below an hourly uptrend line, weakening the short term outlook for the cable. But price action still remains limited in the forex market.
Below daily lows, the next support might lie at 1.5525, followed by 1.5500, ahead of 2014 low located at 1.5484.
Earlier the pair climbed to 1.5585, but the mentioned level offered resistance and it turned to the downside.
The pound is also losing ground against the euro and the Swiss franc on Monday, despite the fact that the Greek Parliament failed to elect a new president triggering snap elections and more uncertainty.
GBP/USD breaks short term dynamic support
The recent slide from 1.5585 to 1.5535 pushed the pair below an hourly uptrend line, weakening the short term outlook for the cable. But price action still remains limited in the forex market.
Below daily lows, the next support might lie at 1.5525, followed by 1.5500, ahead of 2014 low located at 1.5484.