GBP/USD falls to test 1.7100

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The GBP/USD lost momentum after hitting 1.7150 and reversed, falling toward 1.7100. Recently printed a fresh daily low at 1.7098 but quickly rose back above 1.7100.



Currently trades at 1.7104, 0.15% below today’s opening price and 50 pips below where it closed last week.



GBP/USD with support at 1.7085 - 1.7100



Recent decline pushed the pair to the key short-term support located around 1.7085 - 1.7100, where several daily lows are located. A daily close around current levels would be the lowest since the beginning of July but still above 1.7100.



The bearish bias continues to prevail for the session but the barrier around 1.7085 could give support, a break lower could trigger stops.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD: Giving back some space to support line

  2. Forex News

    GBP/USD Drops into Median Line

  3. Forex News

    GBP/USD: Supported on BoE outlook - Scotiabank

  4. Forex News

    GBP/USD Rebound Stalls at Former Support- Bearish RSI Break in Focus

  5. Forex News

    US Dollar May Break to Further Highs but Euro’s Next Move Critical

Trading Center