FXstreet.com (Córdoba) - Following a phase of quiet consolidation within a 30-pip range, GBP/USD finally broke out to the downside and slipped below the 1.5500 mark to hit a fresh weekly low as risk sentiment turned around.
GBP/USD has dropped over 40 pips within the last minutes and hit a low of 1.5481, last seen on May 3, before slowing the slide. At time of writing, the Cable is trading around 1.5485, where it posts a 0.3% daily loss.
In terms of technical levels, if next supports are seen at 1.5479 (low May 3) and 1.5417 (low Apr 26). On the flip side, resistances could be found at 1.5520 (former support level) and 1.5550 (100-hour SMA).