Back
19 May 2014
GBP/USD holds above 1.6800, data in focus
FXStreet (Córdoba) - The GBP/USD is trading a touch lower on the day as the pair faced mild pressure after failing to recover above the 1.6830/40 resistance zone.
The GBP/USD has pulled back from a daily high of 1.6832 to a low of 1.6804 in recent dealings but momentum wanes either side of the board. With the economic calendar pretty much empty Monday investors are taking a cautious approach and remain in a wait-and-see mode.
The AstraZeneca/Pfizer merge news are also in focus ahead of some events for the GBP this week including UK CPI Tuesday, BoE minutes and retail sales Wednesday and UK GDP Thursday.
GBP/USD technical levels
At time of writing, the Cable is trading at the 1.6810 area, nearly flat on the day, with next supports lining up at 1.6783 (May 16 low), 1.6732 (May 15 low) and 1.6700 (psychological level). On the flip side, resistances could now be found at 1.6846 (20-day SMA), 1.6862 (50% Fibo of 1.6995/1.6732) and 1.6874 (May 14 high).
The GBP/USD has pulled back from a daily high of 1.6832 to a low of 1.6804 in recent dealings but momentum wanes either side of the board. With the economic calendar pretty much empty Monday investors are taking a cautious approach and remain in a wait-and-see mode.
The AstraZeneca/Pfizer merge news are also in focus ahead of some events for the GBP this week including UK CPI Tuesday, BoE minutes and retail sales Wednesday and UK GDP Thursday.
GBP/USD technical levels
At time of writing, the Cable is trading at the 1.6810 area, nearly flat on the day, with next supports lining up at 1.6783 (May 16 low), 1.6732 (May 15 low) and 1.6700 (psychological level). On the flip side, resistances could now be found at 1.6846 (20-day SMA), 1.6862 (50% Fibo of 1.6995/1.6732) and 1.6874 (May 14 high).