GBP/USD middle of range, bearish bias

By FXstreet.com | Updated August 06, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.6849, down -0.22% on the day, having posted a daily high at 1.6888 and low at 1.6822.



GBP/USD was trading with a bearish bias as we witnessed further poorer UK data in London. Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart, technical readings stand flat in neutral territory, lacking clear direction as per having traded in range for already a week. “Despite the BOE will meet on Thursday, expectations are of a no change there, and therefore to have little influence in Pound”.



GBP/USD Levels



Current price is 1.6848, with resistance ahead at 1.6850 (Hourly 20 EMA), 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.



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