25 Jun 2014
GBP/UD; Staying long below 1.7000
FXStreet (Guatemala) - GBP/USD is trading at 1.6980, down -0.03% on the day, having posted a daily high at 1.7006 and low at 1.6952.
GBP/USD lost grip of the 1.70 handle again although Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained,"GBP/USD short‐term technicalsare bullish. Technical studies warn of further GBP upside, but have recently softened as spot has failed to make a new high. However with all studies still in buy territory and the RSI at just 59 (no yet at overbought) it suggests an ongoing bias to be long GBP."
GBP/USD Levels
Spot is presently trading at 1.6980, and next resistance can be seen at 1.6985 (Weekly Low), 1.6986 (Daily Open), 1.6993 (Hourly 200 SMA) and 1.6995 (Daily Classic PP). Next support to the downside can be found at 1.6966 (Yesterday's Low), 1.6956 (Daily Classic S1), 1.6952 (Daily Low), 1.6934 (Weekly Classic S1) and 1.6928 (Daily Classic S2).
GBP/USD lost grip of the 1.70 handle again although Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained,"GBP/USD short‐term technicalsare bullish. Technical studies warn of further GBP upside, but have recently softened as spot has failed to make a new high. However with all studies still in buy territory and the RSI at just 59 (no yet at overbought) it suggests an ongoing bias to be long GBP."
GBP/USD Levels
Spot is presently trading at 1.6980, and next resistance can be seen at 1.6985 (Weekly Low), 1.6986 (Daily Open), 1.6993 (Hourly 200 SMA) and 1.6995 (Daily Classic PP). Next support to the downside can be found at 1.6966 (Yesterday's Low), 1.6956 (Daily Classic S1), 1.6952 (Daily Low), 1.6934 (Weekly Classic S1) and 1.6928 (Daily Classic S2).