Goodbye Pound; GBP/USD breaks below 1.5300

FXStreet (San Francisco) - The British Pound extended its collapse against the US dollar beyond the 1.5300 level as the GBP/USD completed a 70-pip decline in the last few hours from 1.5360 to trade at fresh lows since Feb 12 at 1.5280.

Currently, GBP/USD is trading at 1.5285, down 0.52% on the day, having posted a daily high at 1.5375 and low at 1.5280. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.

GBP/USD levels

If the pair consolidates levels below 1.5300, it will find supports at 1.5280, 1.5260 and 1.5220. To the upside, resistances are at 1.5300, 1.5320 and 1.5350.