GBP/USD consolidating while on the offer sub key 1.6825

By FXstreet.com | August 15, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.6692, up 0.04% on the day, having posted a daily high at 1.6703 and low at 1.6677.



GBP/USD is consolidating the downside and remains in a slow grind sub of the 1.67 handle. Meanwhile, Karen Jones, chief analyst at Commerzbank noted that the GBP/USD has been here testing and is so far holding the 200 day moving average at 1.6664. “The rebound from here is indicated to terminate at 1.6760/1.6825, i.e. the rebound should halt ahead of the 6 week downtrend and while capped here the market will remain directly offered”.



GBP/USD hourly levels



Spot is presently trading at 1.6692, and next resistance can be seen at 1.6690 (Hourly 20 EMA), 1.6699 (Yesterday's High), 1.6703 (Daily High), 1.6704 (Daily Classic R1) and 1.6723 (Daily Classic R2). Support below can be found at 1.6686 (Weekly Classic S2) and 1.6680 (Daily Classic PP).



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