GBP/USD finishing up on the week’s lows’

By FXstreet.com | August 01, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.6827, down -0.34% on the day, having posted a daily high at 1.6894 and low at 1.6813.



GBP has been a loser this week, dented by the release of a disappointing manufacturing PMI of 55.4, its lowest level since mid-2013. Eric Theoret, Currency Strategist at Scotiabank explained,“A softened growth outlook and moderating house prices take pressure off the BoE in an environment of contained inflation, with rate hike (OIS) expectations appearing constrained and showing no improvement since late June”.



GBP/USD Levels



Current price is 1.6827, with resistance ahead at 1.6851 (Hourly 20 EMA), 1.6858 (Daily 100 SMA) and 1.6872 (Weekly Classic S2). Next support to the downside can be found at 1.6819 (Daily Classic S2), 1.6813 (Daily Low), 1.6784 (Weekly Classic S3) and 1.6626 (Daily 200 SMA).



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