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. Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market
    Forex News

    Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market

  2. GBP/USD to Break Out on Less-Dovish BoE, Weak U.S. 3Q GDP
    Forex News

    GBP/USD to Break Out on Less-Dovish BoE, Weak U.S. 3Q GDP

  3. GBP/USD shifting through gears but now back into neutral
    Forex News

    GBP/USD shifting through gears but now back into neutral

  4. GBP/USD likely to be range-bound – FXStreet
    Forex News

    GBP/USD likely to be range-bound – FXStreet

  5. GBP/USD recovers ground but falters ahead of 1.57
    Forex News

    GBP/USD recovers ground but falters ahead of 1.57

Trading Center