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5 Jul 2013
GBP/USD tumbles below 1.5050
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last trading at 1.5049, off recent session lows at 1.5027, following BoE leaving rates unchanged at 0.5% during London trade.
GBP/USD looking horrible on the charts
As FX Charts analyst Jim Langlands notes, the GBP/USD “continues to look pretty horrible on the charts. Below 1.5055, the next port of call on the downside is at 1.5005 (29 May low), which would mean that Cable has given up all of its recent gains since the rally to 1.5750,” Langlands said.
GBP/USD key technical levels
Immediate support to the downside for Cable lies t recent fresh 1-month lows 1.5027, followed by May 29 lows at 1.5005, and March 01 lows at 1.4982. To the upside, closest resistance shows at NY session lows 1.5054, followed by Wednesday's lows at 1.5127, and June 28 lows at 1.5164.
GBP/USD looking horrible on the charts
As FX Charts analyst Jim Langlands notes, the GBP/USD “continues to look pretty horrible on the charts. Below 1.5055, the next port of call on the downside is at 1.5005 (29 May low), which would mean that Cable has given up all of its recent gains since the rally to 1.5750,” Langlands said.
GBP/USD key technical levels
Immediate support to the downside for Cable lies t recent fresh 1-month lows 1.5027, followed by May 29 lows at 1.5005, and March 01 lows at 1.4982. To the upside, closest resistance shows at NY session lows 1.5054, followed by Wednesday's lows at 1.5127, and June 28 lows at 1.5164.