GBP/USD under pressure, threatens weekly lows

By FXstreet.com | July 18, 2014 AAA

FXStreet (Córdoba) - The GBP/USD failed to hold above the 1.7100 mark and came under pressure, accelerating south at the beginning of the American session.



The sterling is deepening losses across the board, with the GBP/USD triggering stops orders on the break below 1.7080/73 and sliding towards next support area. At time of writing, the pair is trading at 1.7069, recording a 0.17% loss on the day.



GBP/USD technical levels



As for technical levels, 1.7059 (Jul 15 low, pre-UK CPI data) stands as immediate support, followed by 1.7000 (psychological level/61.8% Fibo of 1.6692/1.7190). On the other hand, resistances are seen at 1.7116 (10-day SMA), 1.7150 (Jul 16 high) and 1.7190 (Jul 15 high).



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  4. GBP/USD Daily Outlook - September 19
    Investing

    GBP/USD Daily Outlook - September 19

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center