GBP/USD finding a temporary bottom?

By FXstreet.com | Updated August 27, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.6578, up 0.24% on the day, having posted a daily high at 1.6607 and low at 1.6537.



GBP/USD has been unable to make anything with the 1.66 handle and falls back into familiar lower territories. However, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank said they are seeing early signs of a temporary bottom in GBP but technicals have yet to turn, warning that it is too early to position for a retracement higher. Meanwhile, GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.



GBP/USD support and resistance levels



Support levels: 1.6540 1.6490 1.6465



Resistance levels: 1.6600 1.6630 1.6660



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