GBP/USD closing London in mid 1.71 handle

By FXstreet.com | July 04, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.7149, down -0.03% on the day, having posted a daily high at 1.7181 and low at 1.7131.



GBP/USD was taken out in mid point London after posting the high for the year 1.7181. It is settled in at and around 1.7150 as we approach London closing which leaves the long term and committed bulls in for action next week and room for those who cashed in to re-enter if their sights are still set on the psychological 1.72 handle. The main risk events ahead for the pair will be the FOMC minutes and then the BoE next week. Looking to a daily chart, we see that RSI is neutral at 71.82.



GBP/USD Levels



With spot trading at 1.7150, we can see next resistance ahead at 1.7151 (Hourly 20 EMA), 1.7155 (Daily Open), 1.7166 (Monthly High), (Weekly High) and (Annual High). Support below can be found at 1.7142 (Daily Classic PP), 1.7141 (Hourly 100 SMA), 1.7131 (Daily Low), 1.7114 (Daily Classic S1) and 1.7114(Weekly Classic R2).



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