GBP/USD: the battle of the " less weak"
|GBP/USD Current price: 1.2874
The GBP/USD pair trades uneventfully around 1.2875, amid the absence of macroeconomic data and both currencies weakened by their central banks. Early London, the Pound attempted a shy recovery, but the pair reverted from 1.2915, having met selling interest around it for the last three days. Risk aversion has eased partially, but is still the main market motor for this Friday, so much of what's next will depend on Wall Street's behavior. Technically, the pair presents a neutral stance in the short term, as in the 4 hours chart, the price is retreating around a bearish 20 SMA, whilst technical indicators head nowhere around their mid-lines. The weekly low was set at 1.2840, the level to break to favor a new leg lower, whilst above 1.2920, the pair can extend up to 1.2965, where selling interest will likely contain the rally.
Support levels: 1.2840 1.2795 1.2760
Resistance levels: 1.2920 1.2965 1.2990
View Live Chart for the GBP/USD
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.