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.”



Related Forex Analysis
  1. GBP/USD expected to move towards 1.5875 - UOB Group
    Forex News

    GBP/USD expected to move towards 1.5875 - UOB Group

  2. GBP/USD capped at 1.6000
    Forex News

    GBP/USD capped at 1.6000

  3. GBP/USD continues its slide on Friday - FXStreet
    Forex News

    GBP/USD continues its slide on Friday - FXStreet

  4. GBP/USD failed to break below 1.5970 support, and rebounded
    Forex News

    GBP/USD failed to break below 1.5970 support, and rebounded

  5. GBP/USD Bearish Candlestick Pattern Casts Immediate Risks Lower
    Forex News

    GBP/USD Bearish Candlestick Pattern Casts Immediate Risks Lower

Trading Center