FXstreet.com (Córdoba) - Cable is falling again across the board but remains a few pips above the lows of the day. GBP/USD is testing below 1.5940, after the pair failed to hold above 1.6000. Current level at 1.5933/37 is 0.78% below today's opening price. The pair is plunging for the second day in a row accumulating a decline of almost 500 pips and fell earlier to 1.5912 posting the lowest price since June 8.
Valeria Bednarik, analyst at FXstreet.com affirms: GBP/USD is playing another game. Pair confirmed the break of the neck of a head and shoulders figure in daily charts at 1.6110, also under another key level, 1.6040, 38.2 % retracement of the weekly fall from 2.0158/1.3502; about to close the week under that zone, will likely signals further falls in the midterm in the pair.