Pound advances slowly against the greenback - FXStreet

By FXstreet.com | July 28, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik sees the GBP strengthening against the US dollar on Monday, hovering close to the 1.7000 level but also confined to a tight range in quiet trading.

Key quotes

“The hourly chart shows momentum heading higher and price above its 20 SMA, while the 4 hours chart shows a strongly bearish 20 SMA capping the upside around the so far daily high of 1.7001.”



“Some upward acceleration above 1.7010 is required to see the pair advancing up to 1.7050/60 price zone, while the downside is exposed on a break below 1.6950.”



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