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Forex pairs in this Article » GBP/USD (Barcelona) - Having climbed in early European trading to post a high at 1.6334, GBP/USD has pushed lower to where it is presently trading at 1.6294.

GBP/USD meets resistance on empty UK calendar

Having climbed higher having broken its overnight cap at 1.6300, GBP/USD has met resistance at the 4H 100 SMA at 1.6330, and edged lower. Gerry Davies of FXBeat notes “Talk of sell orders clustered now up at 1.6340/60, buy stops above there.” Overnight saw UK Rightmove House Price Index data come in better than expected, completing the days UK docket. Ahead ECB President Draghi will speak at 14:00 GMT which could cause some cross pair volatility, but eyes will be focused on tomorrow’s line up with a plethora of UK numbers ranging from CPI, PPI and RPI.

What are today’s key GBP/USD technicals?

Hourly RSI sits at 52, with ADX at 17. The proprietary tools, the OB/OS Index and the Trend Index are neutral and slightly bullish respectively. The hourly 200 SMA sits at 1.6370 and sloping lower, while the daily 20 EMA is neutral at 1.6293. Matt Bacon-Hall of FXBeat sees upcoming support at 1.6260-50 where a variety of bids are combining with prior highs to provide support.
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