GBP/USD losing grip of the 1.66 handle again

By FXstreet.com | Updated August 29, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.6594, up 0.05% on the day, having posted a daily high at 1.6615 and low at 1.6576.



GBP/USD has come back off after a bounce through onto the 1.66 handle. Month end flows had been lifting the pair but with most of that probably done and out of the way, positing in the dollar is back onto the bid. In respect of data flows, these have mostly come from the US personal income and spending that arrived lower than the expectations at 0.2% and -0.1% respectively in July, while core PCE was unchanged at 1.5% y/y.



GBP/USD hourly levels



With spot trading at 1.6595, we can see next resistance ahead at 1.6612 (Daily Classic R1), 1.6623 (Weekly Classic PP) and 1.6638 (Daily Classic R2). Support below can be found at 1.6590 (Hourly 200 SMA) and 1.6588 (Hourly 20 EMA).



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