GBP/USD Technical Analysis for July 29, 2011

The GBP/USD pair had a very quiet day on Thursday as traders are simply confused as to which way to trade as the debt ceiling talks in America continue to stall as lawmakers cannot come to a consensus. The pair did find a bit of support in the form of 1.63, so another leg up could be in the cards, but the 1.65 is looming just above, and one would have to believe it is a serious threat to a sustained move upward.

Written by FX Empire