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17 Dec 2013

GBP/USD slumps to 3-week low

FXstreet.com (Córdoba) - The GBP/USD fell to a fresh 3-week low at the beginning of the American session as the pair triggered stops on the break of the 1.6285 level.

The Pound weakened broadly Tuesday after UK annual rate of inflation fell to a 4-year low of 2.1% in November. The GBP/USD pierced through the 1.6285/1.6260 support area and hit a low of 1.6255 before finding support. At time of writing, the pair is trading at the 1.6270 region, recording a 0.2% loss on the day.

GBP/USD technical outlook

From a technical perspective, Stoyan Mihaylov, analyst at DeltaStock.com noted that "The negative trend continued until passed the resistance 1.6360. The target is 1.6130, after breaking 1.6260".

Dec 17, 2013

EUR/USD dips to daily lows

Following a shallow lift in the wake of strong German ZEW survey, the EUR/USD turned lower and fell to fresh daily lows ahead of the New York opening.

EUR/GBP raises the bar to 4-week highs at 0.8462

EUR/GBP extends the bullish channel that started with this month on recently published data in both the UK and Europe.