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. "



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD sitting pretty despite lower CPI’s
    Forex News

    GBP/USD sitting pretty despite lower CPI’s

  2. GBP/USD technical are mixed - Scotiabank
    Forex News

    GBP/USD technical are mixed - Scotiabank

  3. Still solid GDP growth - BNP
    Forex News

    Still solid GDP growth - BNP

  4. GBP/USD extends gains, nears 1.6100
    Forex News

    GBP/USD extends gains, nears 1.6100

  5. USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles
    Forex News

    USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles

Trading Center