6 Mar 2015
GBP/USD breaks below 1.5100
FXStreet (Córdoba) - GBP/USD broke below the 1.51 mark and accelerated losses to its lowest level since early February, as the dollar continues to benefit from a strong US jobs report.
GBP/USD has dropped more than 150 pips within the last couple of hours and hit a low of 1.5058 so far. At time of writing, the Cable is trading at 1.5070, % below its opening price while heading for an over 350-pip weekly loss.
GBP/USD technical perspective
“The 1 hour chart shows than an early spike found sellers around a bullish 20 SMA whilst the technical indicators head strongly south in extreme oversold levels”, said Valeria Bednarik, chief analyst at FXStreet. “Next support now stands at 1.5050, with a break below exposing the 1.5000 critical figure for the upcoming hours”.
Bednarik locates next support levels at 1.5050, 1.5010 and 1.4980, while she places resistances at 1.5100, 1.5145 and 1.5180.
GBP/USD has dropped more than 150 pips within the last couple of hours and hit a low of 1.5058 so far. At time of writing, the Cable is trading at 1.5070, % below its opening price while heading for an over 350-pip weekly loss.
GBP/USD technical perspective
“The 1 hour chart shows than an early spike found sellers around a bullish 20 SMA whilst the technical indicators head strongly south in extreme oversold levels”, said Valeria Bednarik, chief analyst at FXStreet. “Next support now stands at 1.5050, with a break below exposing the 1.5000 critical figure for the upcoming hours”.
Bednarik locates next support levels at 1.5050, 1.5010 and 1.4980, while she places resistances at 1.5100, 1.5145 and 1.5180.