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28 Aug 2014
GBP/USD to find traction on month end flows?
FXStreet (Guatemala) - GBP/USD is trading at 1.6573, down -0.02% on the day, having posted a daily high at 1.6615 and low at 1.6567.
Despite the slide and losing the 1.66 handle, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that for month end flows, GBP could see some buying on the back of its equity market underperformance in August; such flows could improve the technical outlook and drive a temporary period of GBP strength.
GBP/USD hourly levels
Current price is 1.6574, with resistance ahead at 1.6584 (Hourly 20EMA) and 1.6606 (Hourly 200 SMA). Next support to the downside can be found at 1.6573 (Daily Classic PP), 1.6567 and1.6539 (Daily Classic S1).
Despite the slide and losing the 1.66 handle, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that for month end flows, GBP could see some buying on the back of its equity market underperformance in August; such flows could improve the technical outlook and drive a temporary period of GBP strength.
GBP/USD hourly levels
Current price is 1.6574, with resistance ahead at 1.6584 (Hourly 20EMA) and 1.6606 (Hourly 200 SMA). Next support to the downside can be found at 1.6573 (Daily Classic PP), 1.6567 and1.6539 (Daily Classic S1).