27 May 2014
GBP/USD under scrutiny above key support
FXStreet (Guatemala) - GBP/USD is trading at 1.6787, down -0.33% on the day, having posted a daily high at 1.6884 and low at 1.6783.
With markets having been returning back to the screens in the UK and US, GBP is down against all its G10 peers following the release of weaker than expected loan mortgage data. However while this alleviates immediate upside pressure, Karen Jones, chief analyst at Commerzbank said we will need a close below the uptrend channel at 1.6771 to confirm that the market has topped. “Can we overcome 1.7000? We don’t think so. However signals are conflicting”.
GBP/USD Levels
With spot trading at 1.6787, we can see next resistance ahead at 1.6799 (Daily Classic S3), 1.6813 (Daily Classic S2), 1.6826 (Yesterday's Low), 1.6827 (Daily Classic S1) and 1.6832 (Weekly Low). Support below can be found at 1.6783 (Daily Low), 1.6782 (Weekly Classic S1), 1.6767 (Monthly Low), 1.6731 (Weekly Classic S2) and 1.6661 (Weekly Classic S3).
With markets having been returning back to the screens in the UK and US, GBP is down against all its G10 peers following the release of weaker than expected loan mortgage data. However while this alleviates immediate upside pressure, Karen Jones, chief analyst at Commerzbank said we will need a close below the uptrend channel at 1.6771 to confirm that the market has topped. “Can we overcome 1.7000? We don’t think so. However signals are conflicting”.
GBP/USD Levels
With spot trading at 1.6787, we can see next resistance ahead at 1.6799 (Daily Classic S3), 1.6813 (Daily Classic S2), 1.6826 (Yesterday's Low), 1.6827 (Daily Classic S1) and 1.6832 (Weekly Low). Support below can be found at 1.6783 (Daily Low), 1.6782 (Weekly Classic S1), 1.6767 (Monthly Low), 1.6731 (Weekly Classic S2) and 1.6661 (Weekly Classic S3).