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27 May 2014
GBP/USD picking up, but not enough
FXStreet (Guatemala) - GBP/USD is trading at 1.6868, up 0.16% on the day, having posted a daily high at 1.6871 and low at 1.6836.
Despite this up tick, the Market Strategy Team at UOB Group explained the downside looks vulnerable as long as below 1.6921, but only a break below 1.6800 will shift the current neutral outlook to bearish again. Meanwhile, the hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 78.17, up from 52.22 at the last hour close, while ADX is ranging at 12.49, up from 12.19 previous.
GBP/USD Levels
With spot trading at 1.6869, we can see next resistance ahead at 1.6871 (Daily High), 1.6899 (Weekly High), 1.6903 (Weekly Classic R1),1.6905 (Daily Classic R2) and 1.6934 (Daily Classic R3). Support below can be found at 1.6869 (Daily Classic R1), 1.6858 (Hourly 100 SMA), 1.6855 (Yesterday's High), 1.6852 (Weekly Classic PP) and 1.6843 (Hourly 20 EMA).
Despite this up tick, the Market Strategy Team at UOB Group explained the downside looks vulnerable as long as below 1.6921, but only a break below 1.6800 will shift the current neutral outlook to bearish again. Meanwhile, the hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 78.17, up from 52.22 at the last hour close, while ADX is ranging at 12.49, up from 12.19 previous.
GBP/USD Levels
With spot trading at 1.6869, we can see next resistance ahead at 1.6871 (Daily High), 1.6899 (Weekly High), 1.6903 (Weekly Classic R1),1.6905 (Daily Classic R2) and 1.6934 (Daily Classic R3). Support below can be found at 1.6869 (Daily Classic R1), 1.6858 (Hourly 100 SMA), 1.6855 (Yesterday's High), 1.6852 (Weekly Classic PP) and 1.6843 (Hourly 20 EMA).