FXstreet.com (Córdoba) - Dollar is extending gains against Cable. In the last hour GBP/USD has fallen below 1.6500 to 1.6485, just a few pips above intra-day low. The pair is accumulating a decline of a hundred pips so far during the American session. Current price at 1.6490/95 is 0.45% below today's opening price.

According to Anna Coulling, technical analyst at Master The Markets: With all three moving averages now beginning to bunch once again and with prices constrained between the 14 day and the 40 day moving average there is little meaningful forex technical analysis in the daily chart. The weekly chart, however, paints a slightly different picture in that last week's shooting star candle still remains prominently positioned above the sideways consolidation of the last few months. This week's trading has failed to confirm this signal as yet, although the conclusion of the week may end with a hanging man signal which would confirm, to some extent, the current bearish picture.