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.”



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD Rally Rejected at Trendline
    Forex News

    GBP/USD Rally Rejected at Trendline

  2. US Dollar Forecast to Rally Further, but Why Have Risks Grown?
    Forex News

    US Dollar Forecast to Rally Further, but Why Have Risks Grown?

  3. British Pound Likely to Test Critical Lows
    Forex News

    British Pound Likely to Test Critical Lows

  4. Japanese Yen Remains a sell versus GBP
    Forex News

    Japanese Yen Remains a sell versus GBP

  5. GBP/USD regains 1.6000 as dollar recedes
    Forex News

    GBP/USD regains 1.6000 as dollar recedes

Trading Center