GBP/USD hits fresh year high - FXStreet

By FXstreet.com | July 02, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that the stronger than expected UK Construction PMI data pushed the GBP/USD to a new year high.



Key quotes



"So far the pair has reached a daily high of 1.7176, and the technical picture continues to suggests more gains ahead, as the 4 hours chart shows indicators heading back north after partially correcting its overbought readings."



"In the same time frame, 20 SMA advanced further, now offering intraday support at 1.7095, albeit buyers are expected to surge as early as on approached to 1.7130."



"The 1.7200 figure seems still a quite likely target, while once above, the pair has room to extend up to 1.7250 during the upcoming sessions."



comments powered by Disqus
Related Forex Analysis
  1. Markets Brace for More Volatility on ECB TLTRO, Scotland Referendum
    Forex News

    Markets Brace for More Volatility on ECB TLTRO, Scotland Referendum

  2. USD/JPY unstoppable; 109.00 within reach
    Forex News

    USD/JPY unstoppable; 109.00 within reach

  3. British Pound: Scottish Vote is Close and FX Traders are Nervous
    Forex News

    British Pound: Scottish Vote is Close and FX Traders are Nervous

  4. EUR/USD on mend, but sky is still clouded
    Forex News

    EUR/USD on mend, but sky is still clouded

  5. Asia Recap: Focus shifted to Scottish vote
    Forex News

    Asia Recap: Focus shifted to Scottish vote

Trading Center