GBP/USD extends decline to daily lows at 1.6020

FXStreet (San Francisco) - The Sterling broke below the 1.6035 previous low versus the US Dollar as the GBP/USD fell to lows since October 6 at 1.6020 as the pair is under pressure from GBP/JPY selling to 1-month at 172.70.

Currently, GBP/USD is trading at 1.6031, down 0.54% on the day, having posted a daily high at 1.6138 and low at 1.6020. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.

GBP/USD levels

If the pair extends decline beow 1.6020, next supports are at 1.6000 and 1.6050. To the upside, resistances are at 1.6040, 1.6100 and 1.6120.