Pound advances slowly against the greenback - FXStreet

By FXstreet.com | Updated 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.”



You May Also Like

Related Forex Analysis
  1. Forex News

    GBP/USD consolidates daily gains

  2. Forex News

    US Dollar Once Again Looks like a Buy versus Euro, Major Currencies

  3. Forex News

    British Pound Forecast Calls for Further Weakness

  4. Forex News

    GBP/USD holds above 1.5600

  5. Forex News

    GBP/USD trims half of yesterday's losses

Trading Center