British Pound Getting Hit Hard And Making Further Session Lows

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British Pound Getting Hit Hard And Making Further Session Lows

By Greg Michalowski on April 20, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The GBP is getting hammered across the board as various comments along with weak European equities and anticipation for the April 22 UK annual budget meeting take a toll on the currency. The GBP/USD has dropped over 250 PIPS from earlier session highs busting right through the channel support seen below.

As sellers quickly entered the market, we see a sharp turn in the RSI after hitting a recent high.

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