FXstreet.com (Córdoba) - Following a short-lived upward correction, the pound resumed its decline against the greenback, breaking below last week's lows at the 1.5485 area, to hit its lowest level in nearly a month as the dollar continues to appreciate across the board in the wake of the US jobs report.
GBP/USD fell as low as 1.5470, last seen Jun 12, before decelerating the fall. At time of writing, the cable is quoting at the 1.5480 area, recording a 0.3% loss since opening.
From a technical view, Slobodan Drvenica, analyst at Windsor Brokers Ltd. notes that the pair holds a negative tone and a break below 1.5470/61, 3-week range floor / Fib 61.8%, would accelerate losses towards 1.5400 zone. "Only lift above 1.5600/20 would revive bulls", he added.
GBP/USD fell as low as 1.5470, last seen Jun 12, before decelerating the fall. At time of writing, the cable is quoting at the 1.5480 area, recording a 0.3% loss since opening.
From a technical view, Slobodan Drvenica, analyst at Windsor Brokers Ltd. notes that the pair holds a negative tone and a break below 1.5470/61, 3-week range floor / Fib 61.8%, would accelerate losses towards 1.5400 zone. "Only lift above 1.5600/20 would revive bulls", he added.
