FXStreet (San Francisco) - The Sterling is attempting to make new highs following the US personal income and jobless claims data. The pair jumped 20 pips post-data to daily highs around 1.7040, but it was rejected down to 1.7020.



Earlier in the day, the Sterling rose from 1.6970 to trade at current levels amid the BoE Financial Stability Report. In addition BoE's Carney talked on housing fears and new measures to contain housing prices.



GBP/USD sentiment



Currently, GBP/USD is trading at 1.7025, up 0.25% on the day, having posted a daily high at 1.7042 and low at 1.6971. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.



If the pair managed to held the 1.7000 level, it would face resistances around 1.7040, 1.7050 and 1.7060. On the downside, supports are at 1.7000, 1.6975 and 1.6950.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD Technical Analysis: Six-Week Uptrend Overturned?

  2. Forex News

    GBP/USD: 200 EMA exposed; Worrisome for bulls - FXStreet

  3. Forex News

    USD longs are on their way back - ANZ

  4. Forex News

    EUR/USD: Selling-off on Greek headlines

  5. Forex News

    EUR/USD Rally Checked by ECB Commentary, Better US Data

Trading Center