FXstreet.com (Barcelona) - The Sterling has continuing with its decline against the Greenback during the European session and after testing several times the 1.6325 support, the GBP/USD has finally broken it, falling to test 1-week low at 1.6310.

Currently the pair is trading around 1.6310/20, 0.80% below today's opening price action at 1.6445.

George Clement, analyst at Swiss e Trade, comments: Cable is consolidating its lower levels in early European trading at prices around 1.6330, a support zone. We see an upmove emerging from these levels setting in today, to resistance at 1.6450 which will be not broken, counting on a downmove again from there and a repeated testing of support levels.