Currency Analyst since 2010

GBP/USD: technical levels

GBP/USD fell yesterday by about 70 pips to the $1.6620 area. At H4 MACD went below 0. The pair’s now targeting $1.6600 and $1.6585 (200-period MA at H4, February 24 low). Note that there are many support levels in the area. The next support is at $1.6635 (50% Fibo), $1.6500 and $1.6470. Resistance is located at $1.6685, $1.6700 and $1.6740.

UK manufacturing production rose by 0.4% (forecast: 0.3%). The Bank of England’s Governor Carney started his testimony on inflation and the economic outlook before Parliament’s Treasury Committee.

Chart. H4 GBP/USD

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