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 claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center