FXstreet.com (Córdoba) - Cable is falling for the fourth consecutive day against the Dollar. GBP/USD fell a few hours ago to 1.6255, reaching the lowest price in six weeks. The pair then rose back above 1.6300 but found resistance at 1.6310. Currently trades at 1.6286/90, 0.95% below today's opening price.
Valeria Bednarik, Fxstreet.com collaborator, affirms: Pound remains under selling pressure, having reached with U.S. opening the key 1.6250 support zone. Over sold in the hourly chart, pair could trigger some upside corrective movement above 1.6310/20 area, while under today's low, pair has a quite clear way to the 1.6200 level. Bigger time frames show pair has room to extend to the downside, despite approaching to over sold conditions also.
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