GBP/USD uneventful until key mid week data - FXStreet

By FXstreet.com | Updated August 11, 2014 AAA

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that GBP/USD waits for Wednesday.



Key Quotes:



“UK employment figures and inflation report along with Mark Carney will hit the wires”.



“In the meantime, the GBP/USD trades uneventfully around its 2 month low of 1.6766 posted last Friday, presenting a short term neutral stance according to the 1 hour chart”.



“In the 4 hours one however, the technical picture is bearish with price below its 20 SA and indicators in negative territory, albeit showing no strength at the time being”.



“A daily descendant trend line coming from this year high stands today around 1.6840, and as long as below, bears will remain in control”.



“Support levels: 1.6770 1.6730 1.6695”.



“Resistance levels: 1.6800 1.6840 1.6885”.



You May Also Like

Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  2. Forex News

    GBP/USD Range in Focus Ahead of U.K. & U.S. 3Q GDP Reports

  3. Forex News

    Sterling between bullish dollar and bearish euro - BBH

  4. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

  5. Forex News

    GBP/USD soft into the closing hours - Scotiabank

Trading Center