GBP/USD accelerates to the downside below 1.5700

FXStreet (Córdoba) – GBP/USD broke below 1.5700 and dropped quickly to 1.5665, hitting a 1-week low. The pair accelerated to the downside, falling more than 70 pips during the last hour as the US dollar strengthened in the market. The pound has been the worst performer during the American session, falling even against the Euro despite the lack of a Greek deal.

GBP/USD retracement gets sharper

Last week the pair hit multi-month highs and approached 1.6000 but lost strength, and after moving sideways for two days, turned to the downside, dropping at a fastest pace on Tuesday and Wednesday.

From last week highs it has fallen more than 250 pips and is now headed toward the third daily decline a row, back to the level it had a week ago.

GBP/USD broke below 1.5700 and dropped quickly to 1.5665, hitting a 1-week low. The pair accelerated to the downside, falling more than 70 pips during the last hour as the US dollar strengthened in the market. The pound has been the worst performer during the American session, falling even against the Euro despite the lack of a Greek deal.


(Market News Provided by FXstreet)