GBP/USD finds resistance at 1.7000

By FXstreet.com | 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.



comments powered by Disqus
Related Forex Analysis
  1. USD/CHF has an affair with 0.9350
    Forex News

    USD/CHF has an affair with 0.9350

  2. Elroy sees EUR/USD trading below 1.20 - FXStreet
    Forex News

    Elroy sees EUR/USD trading below 1.20 - FXStreet

  3. EUR/GBP slowly drifting at 0.7950
    Forex News

    EUR/GBP slowly drifting at 0.7950

  4. USD/JPY: two steps forward, one step back
    Forex News

    USD/JPY: two steps forward, one step back

  5. USD/JPY bullish above 104.68 – Commerzbank
    Forex News

    USD/JPY bullish above 104.68 – Commerzbank

Trading Center