Wednesday, August 5, 2009

GBP/USD: Pound, consolidating below 1.7000

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FXstreet.com (Barcelona) - GBP/USD has remained moving in a range from 1.6900 to 1.7000 after being rejected on its attempts to reach a 2009 high above 1.7000.

At the moment, the Pound is testing the lower band of the trading range at 1.6900, in case of dipping below here, next support levels could be at 1.6880 and 1.6815.

GBP/JPY has depreciated during Asian session after being rejected at levels close to 161.80 resistance area, and the Pound lost about 120 pips to levels around 160.50 at the time of writing. Support levels lie at 160.00 and 158.05. On the upside, resistance levels are 161.80 and 162.20.


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