FXstreet.com (San Francisco) - The Sterling is trading lower today against the US Dollar with the GBP/USD trading at 1-month lows on the back of the FOMC meeting minutes of yesterday that only strengthened the greenback and today’s European data even weakens more the already broken sentiment. On the bright side, UK has sold 10-y Bonds at 1.719% in today's Auction, cheaper than the previous yield paid at 1.920%.
The Cable is falling more than 40 pips in the latest hour from 1.5475 to break 1.5460 support and to price at the lowest levels since June 8th at 1.5435. Currently the GBP/USD is trading at 1.5436, 0.40% above today's opening price action.
Pair looks "Slightly Bearish" and "Overbought" according to the FXstreet.com Technical Studies in its 15 minutes time frame.