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22 May 2013
GBP/USD resumes the downside, hits fresh lows
FXstreet.com (Córdoba) - Following a short-lived spike toward 1.5150, GBP/USD turned lower and broke below the 1.5070 support area toward fresh 7-week lows as Bernanke dialed down the dovish tone saying bond purchases could taper in coming months if data deems appropriate.
GBP/USD fell over 120 pips in a matter of minutes, dipping to a low of 1.5037 before pausing the decline. At time of writing, the pair is trading at the 1.5040 zone, posting a 0.7% daily loss.
Immediate supports for GBP/USD could be found at 1.5032 (low Apr 4) and 1.5000 (psychological level), while resistances are seen at 1.5110 and 1.5170 (daily high).
GBP/USD fell over 120 pips in a matter of minutes, dipping to a low of 1.5037 before pausing the decline. At time of writing, the pair is trading at the 1.5040 zone, posting a 0.7% daily loss.
Immediate supports for GBP/USD could be found at 1.5032 (low Apr 4) and 1.5000 (psychological level), while resistances are seen at 1.5110 and 1.5170 (daily high).