After having lost nearly 300 pips last week, GBP/USD has failed to stage a rebound. The pair now eyes fresh multi-year lows at 1.1760, FXStreet’s Eren Sengezer reports.

GBP/USD could rise to 1.1840 if it manages to stay above 1.18

“In case the pair manages to go into a consolidation phase above 1.1800, additional recovery gains toward 1.1840 (static level) and 1.1900 (psychological level) could be witnessed.”

“On the downside, GBP/USD could target 1.1760 (multi-year lows) and 1.1700 (psychological level) if buyers give up on 1.1800.”