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GBP/USD loses momentum and dips below 1.5600

FXstreet.com (Córdoba) – The GBP/USD lost momentum and pulled back from daily highs, as the USD weakness ebbed after the initial reaction to dismal US data.

GBP/USD back below 1.5600

The 1.5610 resistance area halted the GBP/USD advance sending the pair back below the 1.5600 mark most recently. GBP/USD is currently trading at the 1.5580 area, where it holds onto a 0.1% gain on Monday.

GBP/USD key levels

“Steady gains above 1.5610 may see the pair advancing further if current levels hold, yet a break below 1.5550 should lead to a new bearish leg towards fresh monthly lows”, said Valeria Bednarik, chief …read more