GBP/USD relentless and eye’s 1.7200

By FXstreet.com | July 03, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.7153, down -0.07% on the day, having posted a daily high at 1.7170 and low at 1.7101.



Valeria Bednarik, chief analyst at FXStreet explained that the pound was under mild pressure since early European opening, hit by worse than expected UK Services PMI, down to 57.7. However, she suggested that “GBP self strength will be hard to defy and further gains should be expected, and dips are seen as buying opportunities rather than possible tops…At this point, some upward acceleration above 1.7160 is required to confirm a continuation rally, eyeing levels above 1.7200 for the upcoming sessions”.



GBP/USD Levels



Current price is 1.7152, with resistance ahead at 1.7162 (Daily Classic PP), 1.7166 (Daily Open), 1.7166 (Monthly High), 1.7166 (Weekly High) and 1.7166 (Annual High). Next support to the downside can be found at 1.7150 (Hourly 20 EMA), 1.7144 (Daily Classic S1), 1.7140 (Yesterday's Low), 1.7123 (Daily Classic S2) and 1.7116 (Hourly 100 SMA).



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