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GBP/USD hit session low below 1.54

FXStreet (Mumbai) - The GBP/USD pair extended the slide after the US opening bell to hit a session low of 1.5391 as haven demand for treasuries support the USD.

Sterling hurt by risk aversion

The GBP, being a risk currency, suffered losses on account of risk aversion in the equity markets. Meanwhile, the USD remains in demand due to the safe haven appeal of the Treasuries. The 10-yr treasury yield dipped more than six basis points to 2.15%.

Attention now shifts to the BOE Deputy Governor Nemat Shafik’s speech and Fed’s Lockhart speech. In the meantime, sentiment on the Wall Street could continue to affect the overall market’s appetite for the US dollars.

GBP/USD Technical Levels

At 1.5395, the immediate support is seen at 1.5372 (Sep 14 low), under which the losses could be extended to 1.5341 (200-DMA). On the other hand, resistance is seen at 1.5410 (50% of 1.5162-1.5658), followed by a hurdle at 1.5476 (Sep 10 high).

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