GBP/USD falls further, approaches 1.4500

By FXStreet GBP/USD fell like a stone after being rejected from 4-month highs at the 1.4770 area, losing more than 200 pips over the last hours.

GBP/USD turned negative for the day as it dropped to a low of 1.4530 before finding support. The dollar staged a noticeable comeback over the last hours, recovering ground against major peers. At time of writing, Cable was trading at 1.4545, recording a 0.86% loss on the day.

GBP/USD levels to watch

In terms of technical levels, next supports are seen at 1.4522 (Apr 28 low), 1.4510 (10-day SMA) and 1.4494 (Apr 27 low) ahead of 1.4394 (100-day SMA). On the flip side, resistances line up at 1.4769 (May 3 high) and 1.4815 (Jan 4 high) ahead of 1.4844 (Dec 31 2015 high).
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Source:: FX Street