FXstreet.com (Barcelona) - Totaling 99 pips range in the day, the GBP/USD plunged during the American session down to 1.5416 low. Downside pressure may test 1.5400 sentiment level soon. The GBP/USD is definitely extending its losses after last week’s fall, printing new 1-month lows, and could be targeting the June 1 low of 1.5268.
Meanwhile in the US, the 30-year mortgage rate is at a record low of 3.56% and the US 30-year securities auction is ahead at 17:00 GMT. The previous sale got yields at 2.72%.
“GBP/USD has seen a break back under the 1.5461 low, initiating a potential fall towards 1.5350 again”, wrote MIG Bank analyst Bijoy Kar. “However, we note strong weekly support coming in close to current regions. Thus any fall under the 1.5400 level would be expected to be short lived in nature”.
Meanwhile in the US, the 30-year mortgage rate is at a record low of 3.56% and the US 30-year securities auction is ahead at 17:00 GMT. The previous sale got yields at 2.72%.
“GBP/USD has seen a break back under the 1.5461 low, initiating a potential fall towards 1.5350 again”, wrote MIG Bank analyst Bijoy Kar. “However, we note strong weekly support coming in close to current regions. Thus any fall under the 1.5400 level would be expected to be short lived in nature”.
