FXStreet (San Francisco) - The Sterling found support versus the Dollar at lows since June 12 at 1.6855 where the pair found buying interest coinciding with the big drop in Chicago PMI data. GBP/USD is trading now above 1.6875.



The MNI Deutche Börse Group reported a hard drop in Chicago PMI to 52.6 in July; Data is well below 63.0 expected and lowest since July 2013.



Currently, GBP/USD is trading at 1.6876, down 0.22% on the day, having posted a daily high at 1.6928 and low at 1.6857. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.



GBP/USD levels



The GBP/USD is testing the 100-day MA at 1.6855, next supports would be 1.6845 and 1.6800. On the upside, resistances are at 1.6875, 1.6925 and 1.6950.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD Technical Analysis: Sellers Overcome 1.54 Level

  2. Forex News

    Dollar Extends Rally and Breaks Through On EURUSD, GBPUSD and USDJPY

  3. Forex News

    GBP/USD: 1.5260 o the horizon below 1.5440 - FXStreet

  4. Forex News

    All Trading Involves Luck But Good Traders Attempt to Minimize It

  5. Forex News

    UK borrowing to contract faster under Conservatives - ING

Trading Center