GBP/USD attracting bids at soft sterling levels

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.7132, down -0.15% on the day, having posted a daily high at 1.7170 and low at 1.7105.



GBP/USD has attracted bids on the lows and Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that the GBP is soft but still trading within yesterday’s range after the BoE left rates on hold at 0.5% and made no change to its asset purchase program. “As is typical, there was no statement with the unchanged BoE policy decision, leaving markets very little to trade on."



GBP/USD Levels



Spot is presently trading at 1.7132, and next resistance can be seen at 1.7134 (Hourly 100 SMA), 1.7135 (Hourly 200 SMA), 1.7138 (Daily Classic PP), 1.7157 (Daily Open) and 1.7159 (Weekly High). Next support to the downside can be found at 1.7128 (Hourly 20 EMA), 1.7127 (Weekly Low), 1.7116 (Weekly Classic PP), 1.7113 (Daily Classic S1) and 1.7105 (Daily Low).



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