GBP/USD: Too early to call the top - FXStreet

By FXstreet.com | July 16, 2014 AAA

FXStreet (Guatemala) - Val Bednarik, Chief analyst at FXStreet explained that the pound proved once again the charms of being the strongest.



Key Quotes:



“… having suffered a setback early Europe, when employment UK figures shown wages for past month are the lowest on record, widening the gap between incomes and inflation”.



“Nevertheless, the GBP/USD managed to bounce from a daily low of 1.7112 and spent the rest of the day around current levels”.



“Technical readings are neutral in the hourly chart, reflecting current consolidative stage in the pair, while the same picture stands in the 4 hours chart”.



“Calling for a top is way too early and downward movements continue to be seen as buying opportunities down to 1.7060, 23.6% retracement of the latest bullish run”.



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