GBP/USD regains 1.7100

By FXstreet.com | July 09, 2014 AAA

FXStreet (Córdoba) - The GBP/USD managed to bounce from lows after dipping briefly below the 1.7100 mark at the beginning of the American session, as the pound remains under mild pressure ahead of the FOMC minutes and the BoE decision.



The GBP/USD is facing some corrective pressure this week after hitting a 6-year high of 1.7178 Friday supported by prospects the BoE will hike rates before the Fed. Investors will be closely watching today’s FOMC minutes and tomorrow’s BoE in the search of clues.



GBP/USD technical levels



At time of writing, the cable is trading at 1.7110, still down 0.11% on the day. As for technical levels, the pair could find next supports at 1.7085 (Jul 8 low), 1.7049 (50% fibo of 1.6919/1.7178) and 1.7008 (Jun 30 low). On the flip side, resistances are seen at 1.7145 (Jul 9 high), 1.7178 (Jul 4 high) and 1.7196 (Oct 21 2008 high).



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