GBP/USD resting up after a troublesome week

By FXstreet.com | August 22, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.6577, down -0.02% on the day, having posted a daily high at 1.6598 and low at 1.6561.



GBP/USD is resting up after another punishing week to the downside, and entering new lower handles. 1.6560 gave the pair some support from a light touch decent around Yellens speech. The pair here is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bearish. Looking to a daily chart, we see that RSI is neutral at 24.09.



Support levels: 1.6560, 1.6545 1.6510 and 1.6470.



Resistance levels: 1.6600, 1.6630 16680 and 1.6710.



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