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Forex pairs in this Article » GBP/USD (London) - GBP/USD is hanging in there on the 1.64 handle still but not with much conviction while the headwinds are coming in from the descending trend line resisting the unit much beyond 1.6410.

Emmanuel Ng, strategist at OCBC said that over the weekend, the Sunday Times reported that the BOE’s Carney may lower the unemployment rate threshold from 7% - potentially undermining the GBP. “In the near term, a sustained break below 1.6400 may invite a further retracement towards the 55-day MA (1.6248) multi-session.”

GBP/USD Levels

The 20 DMA is 1.6400, the 50 DMA is 1.6249 and the 200 DMA is 1.5702. RSI (14) reads 41. Supports are 1.6214, 1.6262, 1.6297, 1.6316, 1.6358, 1.6395 Spot is currently. 1.6409. Resistances are 1.6420, 1.6444 and 1.6474.
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