FXStreet (Córdoba) - The GBP/USD managed to resume the advance and retested yesterday’s highs during the Asian session, but it was capped once again by the 1.6605 area and confined to a slim range.



The GBP/USD lacked momentum to break above the 10-day SMA (1.6604) and entered a consolidation phase that has extended over the last hours. Today's data might act as a catalyst for the pair, with the US GDP, jobless claims and pending home sales on tap, while UK data includes August consumer confidence.

GBP/USD technical levels



At time of writing, the GBP/USD is trading at 1.6592, still 0.11% above its opening price. A break above 1.6604 (Aug 27 & 28 highs/10-day SMA), would open the way towards 1.6670 (Aug 20 high) and 1.6685 (200-day SMA). On the other hand, supports are seen at 1.6535 (Aug 27 low), 1.6509 (Mar 26 low) and 1.6500 (psychological level).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    BoE, PBoC, and Federal Reserve Weigh Policy on Key Developments

  2. Forex News

    GBP/USD door open for further gains? - BBH

  3. Forex News

    Sterling a best performer - TDS

  4. Forex News

    Webinar: Key USD Scalp Levels For Month End- GBP Crosses in Focus

  5. Forex News

    GBP/USD: Bulls in control, but maybe not for much longer

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!