FXStreet (Córdoba) - With no much in the data front, the GBP/USD has enjoyed a consolidation phase Friday as investors remain cautious amid geopolitical issues and ahead of the weekend.



The GBP/USD bounced from an Asian session low of 1.7082, but the recovery was capped by 1.7116, forcing the pair back below the 1.7100 mark. At time of writing, the GBP/USD is trading at 1.7095, virtually unchanged on the day.



GBP/USD technical outlook



“The intraday bias continues to be negative below 1.7120 minor resistance and the lack of proper reaction above 1.7080 switches the outlook to bearish, for a break through 1.7060 key level, en route to 1.6910”, said Stoyan Mihaylov, analyst at DeltaStock.com. “Crucial on the upside is 1.7150”.



Related Forex Analysis
  1. Forex News

    GBP/USD bulls committed here after Lockhart?

  2. Forex News

    Sterling lows to hold on multi week basis - Westpac

  3. Forex News

    GBP/USD Bulls are losing momentum

  4. Forex News

    Bank of England: Thursday's information overload - UBS

  5. Forex News

    GBP/USD bounces sharply from lows to highs

You May Also Like

COMPANIES IN THIS ARTICLE
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!