The Cable accelerated losses on the 1.6200 break, sliding toward a 1-week low of 1.6150 in recent dealings. At time of writing, GBP/USD is quoting around 1.6160, 0.7% below its opening price, and well below its 3-month high of 1.6305 scored on Wednesday.
In terms of technical levels, on the downside immediate supports are seen at 1.6150 (intraday low) 1.6110 (21-day SMA) and 1.6100 (psychological level), while on the other hand, resistances could be found at 1.6200 (psychological level), 1.6240 (intraday level) and 1.6285 (intraday high).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.