The pound extended its decline against the U.S. dollar on Tuesday, nearing short-term support at 1.5568, the Asian trading session low, after the release of disappointing data on Britain's trade balance.
GBP/USD hovered around 1.5574 during morning European trade, shedding 0.08%.
The pair was likely to find its next immediate support level at 1.5539, both Monday's low and an 8-month low, and after that around 1.5513, the low of May 21. Cable was likely to find resistance at 1.5775, Friday's high.
The decline came shortly after official data showed that Britain's trade deficit with the rest of the world unexpectedly widened to its highest level in nearly a year in December.