12 May 2014
GBP/USD's rejection of 1.6900 finds support at 1.6880
FXStreet (San Francisco) - Earlier in the day, the Sterling's recovery from the 1.6850 against the US Dollar found resistance at 1.6900; then the GBP/USD started to trade in consolidation pattern just above 1.6880.
Currently, GBP/USD is trading at 1.6891, up 0.24% on the day, having posted a daily high at 1.6905 and low at 1.6844. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD levels
If the pair manages to break above 1.6900, it would face further resistances at 1.6920 and 1.6950. On the downside, supports are at 1.6880, 1.6860 and 1.6840.
According to FXBeat analysts, there are sells orders at 1.6910-20 while buy orders around 1.6820/30 and 1.6760/70.
Currently, GBP/USD is trading at 1.6891, up 0.24% on the day, having posted a daily high at 1.6905 and low at 1.6844. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD levels
If the pair manages to break above 1.6900, it would face further resistances at 1.6920 and 1.6950. On the downside, supports are at 1.6880, 1.6860 and 1.6840.
According to FXBeat analysts, there are sells orders at 1.6910-20 while buy orders around 1.6820/30 and 1.6760/70.