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).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD turns positive, prints high of 1.5638

  2. Forex News

    UK mortgage lending beats expectations in June - BOE

  3. Forex News

    GBP/USD remain above 1.5600 on UK data

  4. Forex News

    GBP continues to be well supported – Societe Generale

  5. Forex News

    GBP/USD testing lows near 1.5600

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!