17 Jul 2014
GBP/USD finds support ahead of 1.7100
FXStreet (Córdoba) - The GBP/USD continues to struggle to sustain gains and printed a lower low Thursday European session as it slowly corrects to the downside after hitting a fresh 6-year high of 1.7190 2 days ago.
In the absence of economic data, USD strength prevails on mild risk aversion amid geo-political woes in Ukraine and Gaza. The GBP/USD pulled back toward a low of 1.7107 before finding support and it was last down 0.12% at 1.7115.
During the New York session, the US will release a series of indicators including jobless claims and housing data, which could enliven trading, at least temporarily.
GBP/USD technical levels
In terms of technical levels, if the GBP/USD breaks below 1.7108, it could find next supports at 1.7100 (psychological level), 1.7073 (23.6% Fibo of 1.6692-1.7190) and 1.7058 (Jul 15 low). On the flip side, resistances are seen at 1.7190 (2014 high Jul 15) and 1.7200 (psychological level).
In the absence of economic data, USD strength prevails on mild risk aversion amid geo-political woes in Ukraine and Gaza. The GBP/USD pulled back toward a low of 1.7107 before finding support and it was last down 0.12% at 1.7115.
During the New York session, the US will release a series of indicators including jobless claims and housing data, which could enliven trading, at least temporarily.
GBP/USD technical levels
In terms of technical levels, if the GBP/USD breaks below 1.7108, it could find next supports at 1.7100 (psychological level), 1.7073 (23.6% Fibo of 1.6692-1.7190) and 1.7058 (Jul 15 low). On the flip side, resistances are seen at 1.7190 (2014 high Jul 15) and 1.7200 (psychological level).