GBP/USD waiting for triggers

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - After the latest upside attempt was capped by the 1.7050 area, the GBP/USD entered a consolidation phase which wasn't interrupted even after the release of the UK GDP figures.



The GBP/USD pulled back from highs and erased intraday gains amid new comments on BBC radio from BoE Carney, who said interest rates could rise this year or next. The Cable has spent the last hours in a narrow range and it is currently at 1.7020, virtually unchanged on the day. However, the GBP/USD remains on track for a small gain and with its 5-year peak of 1.7062 at sight.



GBP/USD supports and resistances



In terms of technical levels, next supports for GBP/USD could be found at 1.7000 (psychological level), 1.6970 (Jun 26 low) and 1.6951 (Jun 21 low). On the other hand, resistances are seen at 1.7050 (Jun 27 high), 1.7062 (2014 high Jun 19) and 1.7100 (psychological level).



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