GBP/USD contained ahead of key events

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the GBP/USD traded lower in range, contained ahead of Wednesday UK data including BOE Minutes and a Carney speech.



Key Quotes:



“Nevertheless, the pair has extended its weekly decline to a low of 1.7040, and spikes were short of 1.7100, while the hourly chart presents a bearish bias, all of which supports some upcoming declines”.



“In the 4 hours chart technical indicators present a mild bearish tone, as per heading lower below their midlines, with 200 EMA and last week low around 1.7030 acting as critical support for the upcoming hours”.



“Support levels: 1.7030 1.6985 1.6950”.



“Resistance levels: 1.7095 1.7120 1.7150”.



Related Forex Analysis
  1. GBP/USD expected to move towards 1.5875 - UOB Group
    Forex News

    GBP/USD expected to move towards 1.5875 - UOB Group

  2. GBP/USD capped at 1.6000
    Forex News

    GBP/USD capped at 1.6000

  3. GBP/USD continues its slide on Friday - FXStreet
    Forex News

    GBP/USD continues its slide on Friday - FXStreet

  4. GBP/USD failed to break below 1.5970 support, and rebounded
    Forex News

    GBP/USD failed to break below 1.5970 support, and rebounded

  5. GBP/USD Bearish Candlestick Pattern Casts Immediate Risks Lower
    Forex News

    GBP/USD Bearish Candlestick Pattern Casts Immediate Risks Lower

Trading Center