GBP/USD to crack the yearly highs?

By FXstreet.com | July 09, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.7153, up 0.12% on the day, having posted a daily high at 1.7163 and low at 1.7094.



GBP/USD is running into resistance here and tucked in below the yearly highs made recently. Looking to a daily chart, we see that RSI is neutral at 67.10 which offers further to go and perhaps markets might find something in this weeks BoE announcements, although we are not expecting any surprises there. Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart price overcame its 20 SMA and indicators aim higher, still in neutral territory. “Immediate resistance stands at 1.7180 this year high, with a break above it exposing 1.7250 midterm resistance”.



GBP/USD Levels



Spot is presently trading at 1.7153, and next resistance can be seen at 1.7160 (Daily Classic R1), 1.7163 (Daily High), 1.7166 (Monthly High), 1.7166 (Weekly High) and 1.7166 (Annual High). Next support to the downside can be found at 1.7150 (Yesterday's High), 1.7137 (Hourly 100 SMA), 1.7134 (Daily Open), 1.7127 (Weekly Low) and 1.7126 (Hourly 20 EMA).



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