FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the GBP/USD advanced some on the US day, unable to however to overcome the 1.6600 level, still acting as immediate short term resistance.



Key Quotes:



“The hourly chart shows price managed to recover above its 20 SMA that anyway remains flat a few pips below current price, while indicators turn lower towards their midline, holding for now in positive territory”.



“In the 4 hours chart price stalled right at a bearish 20 SMA, as indicators turn south around their midlines, suggesting there’s little room for a steady recovery. Renewed selling interest below the 1.6540 is required however, to confirm a new leg down, still eyeing 1.6465, March this year monthly low”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD Risks Near-Term Breakout on Strong 2Q U.K. GDP Report

  2. Forex News

    Risk Aversion Builds Pace, Pound Faces Volatility on UK GDP Data

  3. Forex News

    BoE, PBoC, and Federal Reserve Weigh Policy on Key Developments

  4. Forex News

    GBP/USD door open for further gains? - BBH

  5. Forex News

    Sterling a best performer - TDS

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!