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GBP/USD supported on BoE outlook

FXStreet (Guatemala) - GBP/USD is trading at 1.6360, up 0.01% on the day, having posted a daily high at 1.6417 and low at 1.6303.

GBP/USD rebounded comfortably from 1.6320 into supply on the 1.64 handle that was eventually swept up by buyers in the upper end of the 1.63 handle where the pair now digests the activity on the day. Sterling is holding it’s ground relatively speaking in a pro greenback environment with BoE prospects at the forefront of investor’s decision making still. “The focus remains on relative policy and post-referendum stabilization”, explained Eric Theoret, Currency Strategist at Scotiabank who added, “Short term technicals mixed—bullish MACD, RSI poised to break above 50, and sustained break above 21 day MA highlight rising upside risk for GBP."

GBP/USD levels

Spot is presently trading at 1.6363, and next resistance can be seen at 1.6371 (Hourly 20 EMA), 1.6378 (Daily 20 SMA), and 1.6392 (Daily Classic R1). Support below can be found at 1.6353 (Hourly 100 SMA), 1.6340 (Daily Classic PP), 1.6326 (Weekly Classic PP) and 1.6310 (Daily Classic S1).

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