GBP/USD ends below 1.6600, remains limited

By FXstreet.com | August 28, 2014 AAA

FXStreet (Córdoba) - The GBP/USD ended Thursday trading around 1.6584/87, with a modest gain. It was the second daily rise in a row for the Pound against the US dollar but it continues to be face resistance around 1.6600.



On Thursday the GBP/USD traded above 1.6600 but it was rejected and pulled back below. The mentioned area continues to be a short term resistance, that is limiting any recovery. To the downside, the support level could be located at 1.6565 (August 28 low ) and below here at 1.6530/35 (August 25, 27 lows).



Volatility extremely low for the GBP/USD



Since the beginning of the week the pair has moved within a price action range of 80 pips approximately. If during Friday remains between 1.6613 and 1.6535, it would be one of the lowest trading range for a week in years.



comments powered by Disqus
Related Forex Analysis
  1. EUR/USD sitting just above 1.2950 support
    Forex News

    EUR/USD sitting just above 1.2950 support

  2. Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data
    Forex News

    Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

  3. USD/JPY drifting lower, but still well above 107.00
    Forex News

    USD/JPY drifting lower, but still well above 107.00

  4. Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping
    Forex News

    Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping

  5. USD/JPY Technical Analysis: Prices Set New Six-Year High
    Forex News

    USD/JPY Technical Analysis: Prices Set New Six-Year High

Trading Center