FXStreet (Guatemala) - GBP/USD is trading at 1.6992, up 0.10% on the day, having posted a daily high at 1.7003 and low at 1.6973.



A number of the less committed bulls have dropped out of the pound but the hourly chart, according to Valeria Bednarik, chief analyst at FXStreet, shows indicators correcting higher from oversold levels, while 20 SMA maintains a strong bearish slope above current price. “In the 4 hours chart technical indicators also aim higher in negative territory, supporting some limited upward corrective movement that can extend up to 1.7000 without really affecting the dominant bearish tone”.



GBP/USD Levels



With spot trading at 1.6993, we can see next resistance ahead at 1.7003 (Daily High) and 1.7015 (Hourly 100 SMA). Support below can be found at 1.6985 (Hourly 20 EMA) and 1.6978 (Daily Classic PP), 1.6920, 1.6870 and 1.6825.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD consolidated in 1.5550-1.5560 band

  2. Investing

    GBP/USD Forex Signal July 06 2015

  3. Forex News

    GBP/USD drops to a session low of 1.5535

  4. Forex News

    GBP/USD recovers losses ahead of European session

  5. Forex News

    GBP/USD Technical Analysis: Support Below 1.55 in Focus

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!