FXStreet (Barcelona) - GBP/USD is trading at 1.6957, down -0.14% on the day, having posted a daily high at 1.6991 and low at 1.6938.



GBP/USD is still on the 1.69 handle despite the Softer-than-expected UK inflation which nonetheless, strategists at Brown Brothers Harriman suggest is threatening to halt sterling's advancing streak to five sessions. “Consumer prices slipped 0.1% in May, while the consensus expected an increase of 0.1-0.2%. The y/y rate of 1.5% represents a four year low. The market responded in the expected way, pushing short-sterling interest rate futures higher and sterling lower. However, after the knee-jerk reaction, the markets stabilized, sustaining only modest moves. Sterling bulls were already a bit vulnerable after the push through $1.70 yesterday was not sustained”.



GBP/USD Levels



With spot trading at 1.6960, we can see next resistance ahead at 1.6967 (Hourly 20 EMA), 1.6975 (YTD High), 1.6982 (Monthly High), 1.6982 (Weekly High) and (Annual High). Support below can be found at 1.6959 (Yesterday's Low), (Daily Classic S1), 1.6938 (Daily Low), 1.6931 (Daily Classic S2) and 1.6919 (Hourly 100 SMA).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD bulls 'n'bears squaring up at month need testing 1.56 the fig

  2. Forex News

    GBP/USD is a coin with two sides around 1.5674 - CB

  3. Forex News

    BoE points to a rate hike in May 2016 – Rabobank

  4. Forex News

    FX Reversals: GBPUSD News Breakout

  5. Forex News

    GBP/USD spikes to 1.5650 as the treasury yields drop

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!