GBPUSD: Although GBP remains biased to the downside medium term, it faces a temporary bottom. On the downside, support lies at the 1.6700 level where a break will aim at the 1.6650 levels.
A break of here will turn attention to the 1.6600 level. Further down, support lies at the 1.6550 level. Its weekly RSI is bearish and pointing lower, supporting this view.
See how to trade the US JOLTS number with GBPUSD
Conversely, resistance resides at the 1.6887 level with a break aiming at the 1.7000 level where a violation will aim at the 1.7050 level and possibly higher towards the 1.7100 level. On the whole, GBP continues to retain its medium term downside bias short term but faces immediate corrective attempts.
