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2 Jan 2015
GBP/USD falls to 1.5410 on 'Dollar reign'
FXStreet (San Francisco) - The dollar began his reign in 2015 today as investors are buying the greenback after the bearish outlook in the eurozone and low oil prices. Against the pound, the dollar has posted new lows since August 2013.
Draghi said: 'The risk that we do not fulfill our mandate of price stability is higher than six months ago' - Euro was down to 29-month lows
After falling 140 pips from 1.5550, the GBNP/USD broke below 1.5500 to post fresh lows at 1.5410. Currently, GBP/USD is trading at 1.5436, down 0.93% on the day, having posted a daily high at 1.5588 and low at 1.5412.
GBP/USD spot is in extremely oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
GBP/USD Sentiment
According to Mike Paterson from ForexLive, "traders were quick to seize on the weaker UK data though and larger fines being levied on RBS."
The pair is now bouncing off 1.5410, if it extends the movement above 1.5450, it will find resistances at 1.5500 and 1.5550. To the downside, supports are at 1.5410, 1.5400 and 1.5480.
Draghi said: 'The risk that we do not fulfill our mandate of price stability is higher than six months ago' - Euro was down to 29-month lows
After falling 140 pips from 1.5550, the GBNP/USD broke below 1.5500 to post fresh lows at 1.5410. Currently, GBP/USD is trading at 1.5436, down 0.93% on the day, having posted a daily high at 1.5588 and low at 1.5412.
GBP/USD spot is in extremely oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
GBP/USD Sentiment
According to Mike Paterson from ForexLive, "traders were quick to seize on the weaker UK data though and larger fines being levied on RBS."
The pair is now bouncing off 1.5410, if it extends the movement above 1.5450, it will find resistances at 1.5500 and 1.5550. To the downside, supports are at 1.5410, 1.5400 and 1.5480.