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”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD rejected at 1.5340

  2. Forex News

    GBP/USD Technical Analysis: Eyeing Support Below 1.52 Mark

  3. Forex News

    GBP/USD: 1.5260 support challenges bears - FXStreet

  4. Forex News

    GBP/USD: Downside wide open despite bids

  5. Forex News

    GBP/USD: MACD's crossing lower - BBH

Trading Center