FXstreet.com (Córdoba) - Vague words regarding QE3 by Federal Reserve Chairman Bernanke boosted the greenback and sent the cable into tailspin, with GBP/USD losing over 60 pips before finding support.
GBP/USD broke below the 1.5600 level and touched a daily low of 1.5553 before bouncing and trimming some losses. At time of writing, the pair is quoting at the 1.5575/80 area, recording a 0.4% loss on the day.
In terms of technical levels, the 1.5600 mark should now offer initial resistance on bounces, followed by 1.5640/50 and 1.5680. On the downside, supports could be found at 1.5550, 1.5525/30 and 1.5500.
GBP/USD broke below the 1.5600 level and touched a daily low of 1.5553 before bouncing and trimming some losses. At time of writing, the pair is quoting at the 1.5575/80 area, recording a 0.4% loss on the day.
In terms of technical levels, the 1.5600 mark should now offer initial resistance on bounces, followed by 1.5640/50 and 1.5680. On the downside, supports could be found at 1.5550, 1.5525/30 and 1.5500.
