Pound unmoved despite weak UK wage data - FXStreet

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Łódź) - As FXStreet Chief Analyst Valeria Bednarik observes, weaker than expected UK wage data hasn't affected the GBP/USD which remains firm above 1.7100.



Key quotes



"The GPB/USD stands midrange in the 1.7120/30 area, having posted a session high of 1.7151 again rejected from the static resistance area, with the 4 hours chart showing price finding intraday support around a flat 20 SMA, while indicators are directionless in neutral territory."



"And while the upside is still favor as well as buying on dips, further confirmation is required at the time being: a price acceleration above 1.7150 should favor a retest of 1.7190 high, with 1.7250 then as next target."



"Immediate support stands at 1.7095, followed by 1.7060. 23.6% retracement of the latest daily bullish run."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP: Fed volatility within 50 pip range, scores ground on 1.52 handle

  2. Forex News

    Carney speaking; GBP technically mixed - Scotiabank

  3. Forex News

    GBP/USD extiende descenso a mínimos del día en 1.5155

  4. Forex News

    GBP/USD extends decline to daily lows around 1.5155

  5. Forex News

    GBP/USD trades flat ahead of FOMC meeting

Trading Center