GBP/USD holding so far above 1.6900 - FXStreet

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik sees the GBP/USD staying above the 1.6900 level, with the downside limited despite the general strength of the greenback.

Key quotes



“Nevertheless, the pair has broke below a daily ascendant trend line coming from October last year, and the hourly chart presents a strong bearish tone, with 20 SMA heading lower and converging with the broken trend line at 1.6950, and indicators heading strongly south near oversold levels.”



“The 4 hours chart also presents a bearish bias, although the movements are expected to remain limited.”



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD could target 1.4291 in the longer-term – Commerzbank

  2. Forex News

    GBP/USD upside stalled near 1.4870

  3. Forex News

    GBP/USD jumps above 1.4825

  4. Forex News

    Forex Top Movers: US dollar on the offensive; Yen advances

  5. Forex News

    GBP/USD might see additional declines below 1.4750 – FXStreet

Trading Center