GBP/USD unable to advance onto 1.66 handle - FXStreet

By FXstreet.com | August 25, 2014 AAA

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”.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center