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”.



More From

FXstreet.com..

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.