Investing.com – The pound extended early losses against the U.S. dollar on Monday, tumbling to hit a 2-day low, as risk aversion increased ahead of the release of U.S. data on home sales.
GBP/USD hit 1.5554 during European afternoon trade, the pair's lowest since September 16; the pair subsequently consolidated at 1.5566, shedding 0.41%.
Cable was likely to find support at 1.5448, last Wednesday's low and short-term resistance at 1.5728, last Friday's high.
Earlier in the day, the Bank of England said in a preliminary report that mortgage approvals in the U.K. fell more-than-expected in August, to hit their lowest level in 16 months.
The bank said that mortgage approvals in the U.K. fell to 45,000 in August, after increasing to 47,000 in July.
Analysts had expected mortgage approvals to decline to 46,000 in August.
The pound was also down against the euro, with EUR/GBP gaining 0.38% to hit 0.8380.
Later in the day, the U.S. National Association of Home Builders was to publish data on home sales.
GBP/USD hit 1.5554 during European afternoon trade, the pair's lowest since September 16; the pair subsequently consolidated at 1.5566, shedding 0.41%.
Cable was likely to find support at 1.5448, last Wednesday's low and short-term resistance at 1.5728, last Friday's high.
Earlier in the day, the Bank of England said in a preliminary report that mortgage approvals in the U.K. fell more-than-expected in August, to hit their lowest level in 16 months.
The bank said that mortgage approvals in the U.K. fell to 45,000 in August, after increasing to 47,000 in July.
Analysts had expected mortgage approvals to decline to 46,000 in August.
The pound was also down against the euro, with EUR/GBP gaining 0.38% to hit 0.8380.
Later in the day, the U.S. National Association of Home Builders was to publish data on home sales.