Cable falls to session lows as dollar gains on the day

Author: Justin Low | Category: News

GBP/USD falls to a low of 1.3474

Dollar is catching a bit of a bid across the board, only lower against the AUD currently. That's helped to send GBP/USD lower, and right now testing support levels at 1.3473.


From the hourly chart, there's the 50.0 retracement level sitting there - and that's the next line of support that sellers will need to chew through.

Bias for the pair remains to the downside, as rally sellers took the pair below the 100-hour and 200-hour MAs in yesterday's trading.


On the daily chart, there remains a bit of support at the 1.3450 level coinciding with the 38.2 retracement level - and that would be the next level to look out for towards the downside.

The trading range for the pair so far today is 43 pips, still someway off its 22-day average of roughly 80 pips.

Major currencies bloc performance against the USD currently

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