FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the GBP/USD posted a limited advance.



Key Quotes:



“The GBP/USD posted a limited advance. This first trading day of the week, favored by UK Construction PMI released early Europe, showing house building grew at its fastest pace in over 10 years”.



“The GBP/USD hourly chat shows however the upside potential limited, as price remains below strong static level of 1.6860, and indicators losing upward strength albeit still in positive territory”.



“In the 4 hours chart indicators extend higher from oversold levels but hold in negative territory, while 20 SMA caps the upside around mentioned static resistance, reinforcing its strength”.



“An advance above 1.6860 can see the pair extending up to 1.6900 first, but will be only above next resistance of 1.6940 what it takes to revert the negative tone. Below 1.6805 on the other hand, bears will take control with immediate short term support then at 1.6770”.



“Support levels: 1.6805 1.6770 1.6735”.



“Resistance levels: 1.6860 1.6895 1.6940”



Related Articles
  1. Forex Education

    Four Currencies Under the Spotlight in 2016

    With currencies having become the “tail that wags the dog,” in terms of their impact on the global economy, these four currencies will be under the spotlight in 2016.
  2. Forex Fundamentals

    These Currencies Are The Biggest Losers Of The Stock Downturn

    Here’s a list of the hardest-hit currencies amid the global stock market mayhem.
  3. Forex Strategies

    Will the Euro Continue to Rally? (EUO)

    The euro is rallying. Should investors chase this performance or is the real opportunity on the other side of the trade?
  4. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  5. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  6. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  7. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  8. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  9. Investing

    Financial News Comparison: Bloomberg Vs. Reuters (BAC, GOOG)

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  10. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
COMPANIES IN THIS ARTICLE
Trading Center