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19 Feb 2014
GBP/USD remains below 1.6700
FXStreet (Córdoba) - The GBP/USD continues to consolidate below the 1.6700 mark Wednesday with the latest string of US data having little impact on the pair.
The GBP/USD was weighed by disappointing UK employment data during the European trade and fell to a low of 1.6636 before finding support. The GBP/USD has managed to trim losses during the last hours and it is currently trading around 1.6675, virtually unchanged since opening.
GBP/USD technical levels
"Yesterday's rebound above 1.6654 low failed to break through 1.6740 crucial resistance and there is a risk of a deeper drowning towards 1.6580 area before renewal of the general uptrend beyond 1.6821", said Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial on the upside is 1.6740".
The GBP/USD was weighed by disappointing UK employment data during the European trade and fell to a low of 1.6636 before finding support. The GBP/USD has managed to trim losses during the last hours and it is currently trading around 1.6675, virtually unchanged since opening.
GBP/USD technical levels
"Yesterday's rebound above 1.6654 low failed to break through 1.6740 crucial resistance and there is a risk of a deeper drowning towards 1.6580 area before renewal of the general uptrend beyond 1.6821", said Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial on the upside is 1.6740".