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GBP/USD drifting to test bulls out on 1.6220

FXStreet (Guatemala) - GBP/USD is trading at 1.6223, down -0.25% on the day, having posted a daily high at 1.6280 and low at 1.6221.

GBP/USD has been drifting towards support of the sideways channel formed on Thursday’s business of last week where the pair had been changing hands on 1.6220 on the downside and apart from a brief break towards the handle on Friday, cable bulls have held on by the skin of their teeth so far while the Scottish Independence Referendum date approaches fast on Thursday 18 September 2014. Meanwhile, the hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.

GBP/USD hourly levels

Spot is presently trading at 1.6226, and next resistance can be seen at 1.6244 (Hourly 20 EMA), 1.6251 (Hourly 200 SMA), 1.6267 (Weekly High) and 1.6276 (Daily Open). Support below can be found at 1.6222 (Daily Classic S1), 1.6205 1.6199 (Weekly Classic PP) and 1.6197 (Hourly 100 SMA).

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