GBP/USD still trades around Carney’s comments

By FXstreet.com | Updated August 18, 2014 AAA

FXStreet (Guatemala) - GBP/USD is trading at 1.6731, up 0.24% on the day, having posted a daily high at 1.6739 and low at 1.6713.



Emmanuel Ng, FX Strategist at OCBC Bank explained that the pound may remain somewhat confused with Carney’s latest comments over the weekend at odds with the BOE Inflation Report earlier last week. “In the interim, the 1.6700 level and the 200-day MA (1.6671) may remain viable downside loci if market reaction to Carney’s comments are diluted beyond Monday."



GBP/USD hourly levels



With spot trading at 1.6732, we can see next resistance ahead at 1.6734 (Daily Open), 1.6739 (Daily High), 1.6767 (Hourly 200 SMA), 1.6806 (Weekly Classic R1) and 1.6812 (Weekly High). Support below can be found at 1.6731 (Weekly Classic PP), 1.6728 (Daily Classic R3), 1.6722 (Hourly 100 SMA), 1.6722 (Hourly 20 EMA) and 1.6715 (Daily Classic R2).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Double Top reversal in GBP/USD hourly chart – FXStreet

  2. Forex News

    GBP/USD bullish above 1.5265 – Varengold

  3. Forex News

    GBP/USD consolidates above 20-DMA, awaits fresh incentives

  4. Forex News

    GBP/USD Technical Analysis: Digestion Below 1.53 Continues

  5. Forex News

    GBP: Fed volatility within 50 pip range, scores ground on 1.52 handle

Trading Center