GBP/USD under pressure

FXStreet (Córdoba) - The GBP/USD extended its decline during the European session weighed by broad risk aversion and fell to a 3-day low of 1.6615 before finding support.

The USD continues to strengthen amid tensions in Ukraine, dragging the Cable south, although the pair remains within this week's range, with the 1.6580 area as key support area. At time of writing, the GBP/USD is trading at 1.6630, recording a 0.3% loss on the day.

GBP/USD technical perspective

"The intraday bias is still negative within the minor downtrend from 1.6725 and only a break through 1.6701 will renew the positive outlook for 1.6821 resistance", said Stoyan Mihaylov, analyst at DeltaStock.com.