GBP/USD steadies after NFP, headed for weekly loss

By FXstreet.com | August 01, 2014 AAA

FXStreet (Córdoba) - Following an up and down swing and fresh 7-week lows having been scored, the GBP/USD is back at pre nonfarm payrolls levels.



The GBP/USD initially moved up and hit a session high of 1.6860 but it turned lower soon after and printed a fresh 7-week low of 1.6808 to finally settle at mid-range. At time of writing, the Cable is trading at 1.6835, 0.28% below its opening price and on track to post the fourth weekly loss in a row, this time for 0.84%.



GBP/USD technical levels



In terms of technical levels, the GBP/USD could find immediate supports at 1.6808 (Aug 1 low), 1.6800 (psychological level) and 1.6785 (Jun 12 low). On the other hand, resistances are seen at 1.6900 (psychological level), 1.6920 (100-hour SMA) and 1.6954 (Jul 30 high).



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