25 Jun 2014
GBP/USD remains on the defensive
FXStreet (Córdoba) - The GBP/USD has continued to slowly retreat during the Asian session and hit a fresh 1-week low in recent dealings.
Following a short-lived bounce attempt that was capped by the 20-hour SMA at 1.6977, bears gathered momentum and dragged the GBP/USD to a fresh 1-week high of 1.6953 most recently. The Sterling remains on the defensive after relatively dovish Carney prompted a rethink about the timing of BoE rate hikes yesterday.
At time of writing, the GBP/USD is trading at 1.6960, recording a 0.16% loss on Wednesday after dropping 0.25% the previous day.
GBP/USD levels to watch
As for technical levels, the GBP/USD could find next supports at 1.6920 (Jun 18 low) and 1.6900 (psychological level) ahead of 1.6876 (20-day SMA). On the other hand, resistances are seen at 1.7030 (Jun 24 high), 1.7062 (2014 high Jun 19) and 1.7100 (psychological level) ahead of 1.7180 (Oct 10 2008 high).
Following a short-lived bounce attempt that was capped by the 20-hour SMA at 1.6977, bears gathered momentum and dragged the GBP/USD to a fresh 1-week high of 1.6953 most recently. The Sterling remains on the defensive after relatively dovish Carney prompted a rethink about the timing of BoE rate hikes yesterday.
At time of writing, the GBP/USD is trading at 1.6960, recording a 0.16% loss on Wednesday after dropping 0.25% the previous day.
GBP/USD levels to watch
As for technical levels, the GBP/USD could find next supports at 1.6920 (Jun 18 low) and 1.6900 (psychological level) ahead of 1.6876 (20-day SMA). On the other hand, resistances are seen at 1.7030 (Jun 24 high), 1.7062 (2014 high Jun 19) and 1.7100 (psychological level) ahead of 1.7180 (Oct 10 2008 high).