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19 Dec 2013
GBP/USD drops to daily lows
FXstreet.com (Córdoba) - The GBP/USD broke below 1.6360 and fell to fresh daily lows at the beginning of the American session after a disappointing US jobless claims report.
Following a phase of consolidation within 1.6360/1.6400, the GBP/USD came under renewed pressure and hit a low of 1.6334 before finding support at the 50-hour SMA. US jobless claims rose by 10,000 last week, reaching its highest level since March at 379,000. Next in the docket, the US will report the December Philly Fed survey and existing home sales.
GBP/USD technical levels
In terms of technical levels, the GBP/USD could find immediate support levels at 1.6334/30 (daily low/20-day SMA) and 1.6300 (psychological level). On the other hand, resistances are seen at 1.6397/1.6400 (daily high/psychological level), 1.6465 (Dec 10 high) and 1.6483 (Dec 18 high).
Following a phase of consolidation within 1.6360/1.6400, the GBP/USD came under renewed pressure and hit a low of 1.6334 before finding support at the 50-hour SMA. US jobless claims rose by 10,000 last week, reaching its highest level since March at 379,000. Next in the docket, the US will report the December Philly Fed survey and existing home sales.
GBP/USD technical levels
In terms of technical levels, the GBP/USD could find immediate support levels at 1.6334/30 (daily low/20-day SMA) and 1.6300 (psychological level). On the other hand, resistances are seen at 1.6397/1.6400 (daily high/psychological level), 1.6465 (Dec 10 high) and 1.6483 (Dec 18 high).