GBP/USD still trades around Carney’s comments

By FXstreet.com | 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).



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY in no mood for deep decline; settled at 108.80
    Forex News

    USD/JPY in no mood for deep decline; settled at 108.80

  2. EUR/USD attempts to develop upside correction
    Forex News

    EUR/USD attempts to develop upside correction

  3. Pound has room to extend latest gains - JPMorgan
    Forex News

    Pound has room to extend latest gains - JPMorgan

  4. USD positioning largely unchanged in the lead-up to FOMC - ANZ
    Forex News

    USD positioning largely unchanged in the lead-up to FOMC - ANZ

  5. EUR/USD bears in full control - JPMorgan
    Forex News

    EUR/USD bears in full control - JPMorgan

Trading Center