Filed Under:
Forex pairs in this Article » GBP/USD
FXStreet (Barcelona) - Valeria Bednarik,FXStreet Chief Analyst notes that Carney gave pound a boost with a hawkish quarterly inflation report: growth forecast for this 2014 has been reviewed to the upside.

Key Quotes

“Unemployment will likely reach the bank threshold in this first quarter of the year, and interest rates may be rise sooner than previously estimated. The GBP/USD surged to a fresh high of 1.6555 so far today, and holds nearby, still far from showing signs of exhaustion in the short term.”

“The 4 hours charts shows the strong upward momentum pushed price above the 61.8% retracement of the latest daily fall, currently around 1.6510 and immediate support in case of retracements: buyers will most likely take their chances on approaches to that level.”

“With the pair having added already 150 from its daily low, further gains may be a bit hard to accomplish in the short term: some consolidation should be expected, albeit as long as above mentioned 1.6510 bulls will be in control. Renewed advances beyond 1.6660 should signal an upward continuation towards 1.6605 price zone.”
comments powered by Disqus