FXstreet.com (Barcelona) - The Sterling has fallen further in the last hour against the Greenback and, after falling around 115 pips in the European session the GBP/USD is testing the 1.6200 key support. Currently the pair is trading around 1.6315/25, 0.55% below today's opening price action at 1.6310.
The Kshitij Consultancy Service Team comments: Cable continued to honour the range as it has come down after rising towards 1.6319 and is now testing the Support at 1.6229 that we have been mentioning over the last several days. We hope that it is likely to honour the range and is likely to close above 1.6229 today. Till this range holds and till it closes above 1.6229, we would not look for a fall towards 1.60.