FXstreet.com (Barcelona) - Sterling has broken support level at 1.3822, and advances strongly towards 1.3720 support level, after The London Exchange opened on a weak note.

GBP/USD advances towards 1.3720, and below here, the pair could drop towards a new six week low in case of dropping below yesterday's low at 1.3654, below here, the Pound could drop to 1.3600, and then long time support line at 1.3500.

On the upside, Sterling should return above 1.3822 and then 1.3923 intra-day high to confirm a bottom an above there, resistance line at 1.4040 would be exposed.

According to Per-Erik Karlsson, the Pound remains weak, and a test to yearly low at 1.3501 should be considered: Remains weak below the interim falling resistance coming in at 1.4285 today. The break below 1.40 Monday opens for a possible test of that yearly low at 1.3501. Key levels for today are, falling resistance at 1.4285 and support at the yearly low at 1.3501. Really have to get above the 1.39 level to make possible reversal and relieve the downside.