Investing.com - The pound extended losses against the U.S. dollar on Wednesday, falling to a three-day low amid growing uncertainty over the capacity of European leaders to agree on a viable solution to the region's debt crisis.
GBP/USD hit 1.5898 during U.S. morning trade, the pair's lowest since October 21; the pair subsequently consolidated at 1.5897, sliding 0.63%.
The pair was likely to find support at 1.5753, the low of October 21 and resistance at 1.6082, the high of September 8.
Risk sentiment was dampened after Bloomberg reported that talks between EU officials and banks over Greek bonds were deadlocked, citing an unidentified EU official.
Earlier, Germany's parliament approved a plan to enhance the firepower of the euro zone's rescue fund, ahead of a key summit in Brussels which investors hoped would result in a plan to stem the region's debt woes.
The pound had come under pressure earlier after the Confederation of British Industry said that its index on industrial order expectations fell at its fastest pace in more than a year in October, tumbling to minus 18 from a reading of minus 9 the previous month.
In the U.S., official data showed that orders for long lasting manufactured goods fell more-than-expected in September, declining for the second successive month, while core durable goods orders, which exclude transportation items, jumped more-than-expected.
The pound was also lower against the euro with EUR/GBP rising 0.16%, to hit 0.8706.
Also Wednesday, the U.S. Commerce Department said new home sales rose by 5.7% to a seasonally adjusted 313,000 units in September, outstripping expectations for a 1.7% increase.
GBP/USD hit 1.5898 during U.S. morning trade, the pair's lowest since October 21; the pair subsequently consolidated at 1.5897, sliding 0.63%.
The pair was likely to find support at 1.5753, the low of October 21 and resistance at 1.6082, the high of September 8.
Risk sentiment was dampened after Bloomberg reported that talks between EU officials and banks over Greek bonds were deadlocked, citing an unidentified EU official.
Earlier, Germany's parliament approved a plan to enhance the firepower of the euro zone's rescue fund, ahead of a key summit in Brussels which investors hoped would result in a plan to stem the region's debt woes.
The pound had come under pressure earlier after the Confederation of British Industry said that its index on industrial order expectations fell at its fastest pace in more than a year in October, tumbling to minus 18 from a reading of minus 9 the previous month.
In the U.S., official data showed that orders for long lasting manufactured goods fell more-than-expected in September, declining for the second successive month, while core durable goods orders, which exclude transportation items, jumped more-than-expected.
The pound was also lower against the euro with EUR/GBP rising 0.16%, to hit 0.8706.
Also Wednesday, the U.S. Commerce Department said new home sales rose by 5.7% to a seasonally adjusted 313,000 units in September, outstripping expectations for a 1.7% increase.