FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that following the BoE's meeting, during which the central bank held policy steady as expected, the GBP/USD is trading a few pips above the 1.6822 daily low at 1.6829.



Key quotes



"The hourly chart is showing price below its 20 SMA and indicators heading lower in negative territory, supporting a test of 1.6800."



"In the 4 hours chart the picture is pretty much the same, with 20 SMA capping the upside around 1.6860 and indicators headed south."



"A break below mentioned low should lead to a quick test of 1.6770, in route to 1.6730 stronger support."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Investing

    GBP/USD: August 2015 Forecast

  2. Forex News

    Heavy Event Risk in Jobs Data, Rate Decision Will Confront Summer Trading

  3. Forex News

    US Dollar as ‘Data Dependent’ as the Fed as NFPs Approach

  4. Forex News

    Monetary Policy Speculation Continues Next Week With NFPs, RBA and BoE

  5. Forex News

    GBP Opening Monthly Range Hinges on BoE Vote Count, Inflation Report

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!