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.



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