FXstreet.com (Córdoba) - The Pound is falling sharply across the board on Thursday. GBP/USD bottomed earlier at 1.6604 during the American session posting a fresh intra-week low. From there started to recover but found resistance at 1.6665. Currently trades at 1.6640/46, 0.65% below today's opening price. The pair is falling for the third consecutive day accumulating a decline of almost 200 pips and has fallen below an uptrend line in four hours charts.
Michael J. Malpede, analyst at Easy Forex comments: The technical outlook for GBP is mixed as GBP trades below 1.6700. Expect near-term support at 1.6515 the November 12th low with resistance at 1.6875 for November 16th high.