15 Jul 2014
GBP/USD falls below 1.7175 as USD demands grow on Yellen
FXStreet (San Francisco) - The Sterling rally against the US dollar was stopped at nearly 6-year highs around 1.7190 where the pair found USD dollar demand amid Yellen speech. The GBP/USD found support at 1.7135.
Janeth Yellen commented that the Fed's policy will remain accommodative until economic headwinds overcome. She thinks the recovery isn't enough as the Fed hasn't meeting inflation and labor mandates.
Currently, GBP/USD is trading at 1.7152, up 0.41% on the day, having posted a daily high at 1.7192 and low at 1.7060. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
GBP/USD levels
Below the 1.7135, the GBP/USD would face supports at 1.7115 and 1.7100. On the upside, resistances are at 1.7160, 1.7190 and 1.7200.
Janeth Yellen commented that the Fed's policy will remain accommodative until economic headwinds overcome. She thinks the recovery isn't enough as the Fed hasn't meeting inflation and labor mandates.
Currently, GBP/USD is trading at 1.7152, up 0.41% on the day, having posted a daily high at 1.7192 and low at 1.7060. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
GBP/USD levels
Below the 1.7135, the GBP/USD would face supports at 1.7115 and 1.7100. On the upside, resistances are at 1.7160, 1.7190 and 1.7200.