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Forex pairs in this Article » GBP/USD
FXstreet.com (Barcelona) - Tim Riddell, ANZ Head of Global Markets Research, Asia, notes that the recent GBP/USD trading range is dominant, with a near term downside bias.

Key Quotes

“Little change. The underlying bias remains that a frustrating period of range trading continues to develop.”

“The inability to hold levels above 1.5650 could signal an interim top and so the current slide below 1.5575 suggests a near term “bull-trap” was triggered on the pop above 1.5650.”

“A close now below 1.5500 should trigger another slide towards the 1.5250, possibly 1.5000, as the frustrating range trading unfolds. A spike back above 1.5650 is needed to alter this profile.”
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