GBP/USD attempts new highs but it gets a rejection

By FXstreet.com | Updated July 30, 2014 AAA

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. Investing

    EUR/USD Falls During Wednesday Trading

  2. Forex News

    EUR/USD hovers around 1.1300, German labour report in focus

  3. Forex News

    Double Top reversal in GBP/USD hourly chart – FXStreet

  4. Forex News

    GBP/USD bullish above 1.5265 – Varengold

  5. Forex News

    EUR/USD failure to break above 1.1320/15 – DayTradeIdeas

Trading Center