FXStreet (Guatemala) - GBP/USD is trading at 1.6855, up 0.01% on the day, having posted a daily high at 1.6858 and low at 1.6848.



GBP/USD has edged back from the slide from above 1.6890 on poorer data form the UK in London and is consolidating away from the lows beyond 1.6825 which had been threatening the bulls and testing out their commitments.



Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained "GBP/USD short‐term technicals: bearish—yesterday we highlighted that the near‐term risk was (and still is) to a test of the June 12th low of 1.6786. Technicals remain bearish, even as the currency has failed to break to a fresh low over the last several sessions. Still it is too early to fight the downward GBP trend and bearish technicals."



GBP/USD Levels



Current price is 1.6855, with resistance ahead at 1.6856 (Hourly 100 SMA), 1.6865 (Daily 100 SMA) 1.6874 (Daily Classic PP) and 1.6895. Next support to the downside can be found at 1.6829 (Daily Classic S2), 1.6800, 1.6770 and 1.6730.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Heavy Event Risk in Jobs Data, Rate Decision Will Confront Summer Trading

  2. Forex News

    US Dollar as ‘Data Dependent’ as the Fed as NFPs Approach

  3. Forex News

    Monetary Policy Speculation Continues Next Week With NFPs, RBA and BoE

  4. Forex News

    GBP Opening Monthly Range Hinges on BoE Vote Count, Inflation Report

  5. Forex News

    BoE inflation report - TDS

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!