GBP/USD holding in there for now

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.6832, up 0.27% on the day, having posted a daily high at 1.6861 and low at 1.6786.



GBP/USD has been chasing back way from the 1.68 handle while Karen Jones, chief analyst at Commerzbank explained that slightly longer term, they continue to believe that the market has topped at 1.70… “We would expect losses to 1.6480/67 the 23.6% retracement of the 2013-2014 move and the March low”.



GBP/USD Levels



Current price is 1.6834, with resistance ahead at 1.6853 (Daily Classic R2), 1.6861 (Daily High), 1.6866 (Weekly Classic R1), 1.6895 (Daily Classic R3) and 1.6899 (Monthly High). Next support to the downside can be found at 1.6821 (Daily Classic R1), 1.6820 (Weekly High), 1.6820 (Hourly 20 EMA), 1.6813 (Yesterday's High) and 1.6794 (Hourly 100 SMA).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Forecast: Will Dollar and Equity Declines Evolve into Reversals?

  2. Forex News

    British Pound Forecast to Trade Higher on Fundamental Strength

  3. Forex News

    Video: Risk Reversal a Greater Danger Than Dollar Tumble Next Week

  4. Forex News

    GBP/USD: Preview of a key week next week

  5. Forex News

    BoE's pre election period - TDS

Trading Center