FXstreet.com (Córdoba) - The cable extended losses to fresh weekly lows as the greenback strengthened in the wake of better-than-expected Chicago region PMI and amid investors' cautiousness ahead of central banks' decisions.
GBP/USD broke below the 1.5660/65 support area, also falling through the 100-hour SMA to hit its lowest level since Friday at 1.5630. At time of writing, the pair is trading at the 1.5635/40 zone, printing a 0.4% decline on Tuesday.
As for technical levels, immediate supports below 1.5630 are seen at 1.5600 and 1.5550, while resistances in case of bounces could be found at 1.5660, 1.5715 and the 1.5730/40 zone.
The Chicago PMI rose to 53.7% in July from 52.9% in June, surpassing expectations of 52.5% and snapping a run of 3 straight falls.
GBP/USD broke below the 1.5660/65 support area, also falling through the 100-hour SMA to hit its lowest level since Friday at 1.5630. At time of writing, the pair is trading at the 1.5635/40 zone, printing a 0.4% decline on Tuesday.
As for technical levels, immediate supports below 1.5630 are seen at 1.5600 and 1.5550, while resistances in case of bounces could be found at 1.5660, 1.5715 and the 1.5730/40 zone.
The Chicago PMI rose to 53.7% in July from 52.9% in June, surpassing expectations of 52.5% and snapping a run of 3 straight falls.
