The Pound Sterling dropped sharply below the 1.2700 figure as risk aversion took its toll on most G7 currencies, except for safe-haven peers like the Greenback.
GBP/USD drops to 1.2683, marking a new four-week low of 1.2656 amidst risk aversion. Technical outlook: Bearish momentum as RSI falls below 50; potential support at 1.2643/38, 50-DMA at 1.2611, and 200-DMA at 1.2547. Resistance at 1.2700; if breached, expect consolidation in the range of 1.2700-1.2750. Political turmoil in Europe sent the Euro collapsing against the Swiss Franc, while the GBP/USD falls 0.62% and traded at 1.2683 at the time of writing.
2643/38, that would accelerate the downtrend, exposing the 50-DMA at 1.2611, ahead of 1.2600. Further losses are seen below the figure, with the 200-DMA at 1.2547 up next. Conversely, if buyers moved in and reclaim 1.2700, the GBP/USD could consolidate at around 1.2700-1.2750, as stir resistance lies ahead. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.2683 Today Daily Change -0.0079 Today Daily Change % -0.62 Today daily open 1.2762 Trends Daily SMA20 1.
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