GBP/USD bearish below 1.70 handle

By FXstreet.com | July 28, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.6992, up 0.10% on the day, having posted a daily high at 1.7003 and low at 1.6973.



GBP/USD remains in a tight range sub the 1.70 handle and the GBP/USD short-term technicals are looking bearish according to Eric Theoret, Currency Strategist at Scotiabank. “Momentum indicators highlight acceleration. An RSI at 40 provides for further downside before reaching oversold levels. A meaningful break of the 50 day MA will shift the focus to the 100 day MA at 1.6850."



GBP/USD Levels



With spot trading at 1.6993, we can see next resistance ahead at 1.7000 (Yesterday's High) and 1.7015 (Hourly 100 SMA). Support below can be found at 1.6985 (Hourly 20 EMA) and 1.6975 (Weekly Low).



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  4. GBP/USD Daily Outlook - September 19
    Investing

    GBP/USD Daily Outlook - September 19

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center