GBP/USD finds resistance at 1.7000

By FXstreet.com | Updated July 28, 2014 AAA

FXStreet (Córdoba) - The recovery of the GBP/USD from 1.6959 found resistance at the 1.7000 area. Price recently hit a fresh daily high at 1.7001 but failed to hold and pulled back.



Currently trades at 1.6990, up 0.09% for the day so far, rising for the first time after falling in the previous eight trading days.



The GBP/USD continues to move with an upside bias for the day but price action remains limited in line with the rest of the currency market. Also on a wider perspective the short term trend points to the downside.



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