GBP/USD under pressure, threatens weekly lows

By FXstreet.com | Updated July 30, 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).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD breaches the rising channel despite upbeat UK PMI – FXStreet

  2. Forex News

    GBP/USD inching higher, below 1.5400

  3. Forex News

    GBP/USD in a run for 1.5400, UK data eyed

  4. Forex News

    Greece, Chinese Stimulus, Fed Timing and RBA Decision Top Trading Wires

  5. Forex News

    GBP/USD Technical Analysis: Key Channel Support Broken

Trading Center