GBP/USD back to opening levels - FXStreet

By FXstreet.com | July 02, 2014 AAA

FXStreet (Łódź) - Following the GBP/USD rise to 1.7176 in the European morning on positive UK construction PMI data, the pair is trading again close to its daily opening levels, FXStreet Chief Analyst Valeria Bednarik points out.

Key quotes



"The hourly chart shows price hovering around its 20 SMA that lost the strong upward momentum seen yesterday, as indicators turn lower still in neutral territory."



"In the 4 hours chart indicators are finally correcting overbought readings from the past couple days, yet if price holds above 1.7130, there’s little room to the downside. "



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