GBP/USD consolidating at highs- FXStreet

By FXstreet.com | Updated August 18, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the GBP/USD has been holding close to its daily high of 1.6737 after rising at the weekly opening.

Key quotes

"BoE’s Governor Carney stated over the weekend that he would not have to wait for real wages to turn positive before raising interest rates."

"The news came as a shock following the quarterly inflation report, when he stated that rates will rise from current 0.5% next year but only if wage growth picks up, lifting hopes of a sooner rate hike in the UK."

"Pound early strength however, turned into current lazy consolidation against the greenback, confined for most of the last two sessions at a 20 pips range."

"Technically, the 4 hours chart presents a mild positive tone, with indicators above their midlines and price holding above its 20 SMA that anyway maintains a bearish slope."

"Some follow trough above 1.6760 is now required to confirm further advances towards the 1.6800 area, not seen for today."

"Below 1.6710 on the other hand, the pair may fill the gap, falling down to 1.6680 price zone."

You May Also Like

Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  2. Forex News

    GBP/USD Range in Focus Ahead of U.K. & U.S. 3Q GDP Reports

  3. Forex News

    Sterling between bullish dollar and bearish euro - BBH

  4. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

  5. Forex News

    GBP/USD soft into the closing hours - Scotiabank

Trading Center