Forex: GBP/USD down as risk aversion sharpens

[Rey Nuevo]

The sterling is notching lower on Thursday as the US dollar is advancing against its major rivals after the NA open. A worse political climate is coming out of Greece after officials made dreadful comments regarding the country’s debt situation, accelerating the sell-off in the risk related assets as well as rumours about Greece leaving the bloc.

 

Technical Analyst J.Kruger at DailyFX, has commented the likeliness of a medium-term top after the cross has failed to follow through the 1.6300 mark. The expert confirms his bearish perspective towards the close stressing that “…key support now comes in by 1.6075 and a break and close below this level will confirm bearish bias and accelerate declines towards 1.5800 further down…”

 

As of writing, the cross is down 0.39% at 1.6131, with the next support lying at 1.6115, followed by 1,6082 then 1.6063 and 1.6055

On the upside, a break above 1.6208 would bring 1.6215 then 1.6248 and 1.6280