FXStreet (Córdoba) - The GBP/USD finished Thursday slightly lower and moved away from 1.7200 but it was able to hold above 1.7100. The pair peaked at 1.7166 (3-day high) but then reversed and fell, bottoming on European hours at 1.7104.



During the American session the US dollar lost strength and the GBP/USD trimmed losses. The recovery was capped around the 1.7140 and finished at 1.7135.



GBP/USD technical outlook



“The hourly chart shows buyers surged on approaches to the 1.7100 level, with indicators heading north still below their midlines as price stands now above its 20 SMA”, says Valeria Bednarik, Chief Analyst at FXStreet.



Bednarik notes that the 4-hour chart shows minor bullish technical signals “but for the most neutral as per latest range.”



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD: technicals providing an early warning sign – Scotiabank

  2. Forex News

    GBP/USD hits session low of 1.5495

  3. Forex News

    GBP/USD drops sharply after US CPI, BoE Carney speech

  4. Forex News

    GBP/USD supported near 1.5610

  5. Forex News

    FX outlook: EUR/USD downside bias for 1.1030/60 – Littlefish FX

Trading Center