By CountingPips.com
GBPUSD: The British pound sterling declined for a third straight week last week and fell sharply against the dollar through the 1.5000 major level. The GBP/USD will drop to its lowest level since 2010 if it touches below 1.4820 this week in the foreign exchange markets. This currency pair looks likely to test the 1.4750 major support area in the near-term if the trend continues with GBP weakness. Overhead resistance this week will likely come into the 1.5000 level while near-term support looks likely to be at the 1.4850 level and then the 1.4800 major threshold.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
