GBP/USD further downside would visit 1.5640

The sterling is showing some weakness on Tuesday after agency Moody’s put the UK in negative outlook. Thus, coupled with more monetary easing from the BoE and the (so far) disappointment in the Greek front, the cable is under offering pressure in today’s session, along with the rest of its peers.

C.Harmer, analyst at Charmer Charts, has suggested the likelihood of further advance if the cross manages to hold the 1.57 level, with possible targets 1.5790 and 1.5840
On the opposite side, “If we loose this support then we will have further bearish implications with another assault on 1.5640 imminent”, she concluded.

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