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21 Oct 2013
GBP/USD falls to 4-day low
FXstreet.com (Córdoba) - The GBP/USD slipped to fresh daily lows sub 1.6150 as the greenback takes another step higher at the beginning of the American session.
After being rejected from the 1.6225 area Friday, the GBP/USD entered in correction mode, having broken below the 1.6150 support area which had contained the downside over the last sessions. GBP/USD fell to a 4-day low of 1.6135 before finding next support area and bouncing to trade around 1.6140, 0.2% below its opening price.
GBP/USD technical levels
As for technical levels, the GBP/USD could find immediate supports at 1.6100 (psychological level) and 1.6065 (100-hour SMA), while resistances could be found at 1.6180 (daily high), 1.6225 (Oct 18 high) and 1.6260 (Oct 1 high).
After being rejected from the 1.6225 area Friday, the GBP/USD entered in correction mode, having broken below the 1.6150 support area which had contained the downside over the last sessions. GBP/USD fell to a 4-day low of 1.6135 before finding next support area and bouncing to trade around 1.6140, 0.2% below its opening price.
GBP/USD technical levels
As for technical levels, the GBP/USD could find immediate supports at 1.6100 (psychological level) and 1.6065 (100-hour SMA), while resistances could be found at 1.6180 (daily high), 1.6225 (Oct 18 high) and 1.6260 (Oct 1 high).