The GBP/USD maintains a heavy tone, trading at the lower end of its latest range around 1.7060, albeit contained ahead of key UK data next Wednesday, with BOE Minutes and a Carney speech included. Earlier today UK public finance data showed a bigger than expected deficit in June, but the effect in Pound remains limited.
Technically, a mild bearish tone persists, as price develops below a bearish 20 SMA while indicators stand below their midlines, showing no directional strength at the time being. 200 EMA in this last time frame stands around 1.7030, a few pips below past week low: some follow through below the level should signal a stronger slide, targeting 1.6985 in the short term.
Immediate resistance stands at 1.7095 followed by 1.7120. Above this last, the upside is favored again eyeing a test of 1.7150 price zone, although chances of such advance seem limited for today.
View Live Chart for GBP/USD
Technically, a mild bearish tone persists, as price develops below a bearish 20 SMA while indicators stand below their midlines, showing no directional strength at the time being. 200 EMA in this last time frame stands around 1.7030, a few pips below past week low: some follow through below the level should signal a stronger slide, targeting 1.6985 in the short term.
Immediate resistance stands at 1.7095 followed by 1.7120. Above this last, the upside is favored again eyeing a test of 1.7150 price zone, although chances of such advance seem limited for today.
View Live Chart for GBP/USD
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