FXStreet (Bali) - GBP/USD seems now ready to resume the upside, notes Valeria Bednarik, Chief Analyst at FXStreet.



Key Quotes



"The lack of news in the UK and Europe left the pair at the mercy of stocks and dollar earlier on the day, but again the GBP/USD found buyers on approaches to the 1.7095 static support and seems now ready to resume the upside."



"The hourly chart shows price recovered above its 20 SMA while indicators turned positive above their midlines. In the 4 hours chart price overcame its 20 SMA and indicators aim higher, still in neutral territory. Immediate resistance stands at 1.7180 this year high, with a break above it exposing 1.7250 midterm resistance."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    FX: CFTC Commitments of Traders Report - TDS

  2. Forex News

    GBP/USD bulls need to catch their breath

  3. Forex News

    GBP/USD lid turn tighter on Yellen and dollar strength

  4. Forex News

    GBP/USD back to 1.5000 in time - Rabobank

  5. Forex News

    GBP/USD: technicals providing an early warning sign – Scotiabank

Trading Center