1.6995/700 saw resistance applied after we fell through and we’re having a little wander up to the level just know as the buck loses a bit of steam.

GBP/USD Daily chart 28 07 2014

GBP/USD Daily chart 28 07 2014

1.7020 is the first resistance level to watch above, then 1.7040/45.

1.6970 has been support today and overnight, and we haven’t managed to hold below which strengthens the level somewhat.