GBP/USD consolidating at highs- FXStreet

By FXstreet.com | 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."

comments powered by Disqus
Related Forex Analysis
  1. AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation
    Forex News

    AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation

  2. USD/JPY bulls need to take a breath before a new attack at 110.00
    Forex News

    USD/JPY bulls need to take a breath before a new attack at 110.00

  3. Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
    Forex News

    Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low

  4. GBP/USD nervous below 1.6200, waiting for data
    Forex News

    GBP/USD nervous below 1.6200, waiting for data

  5. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Trading Center