13 Feb 2014
Flash: GBP/USD has scope to test 1.6745 - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that GBP/USD flirted with this year high, reaching 1.6653 so far today, amid a general weakness of the greenback particularly against its European rivals.
Key Quotes
“With no headlines behind the move, the pair stands around 1.6640 with the 4 hours chart showing indicators maintaining a strong upward momentum despite in extreme overbought levels, with no signs the pair may pull lower at the time being.”
“Immediate support stands at current daily low around 1.6590 and approaches to the level should be seen as buying opportunities towards this year high of 1.6666.”
“A price acceleration beyond 1.6670, should see the pair extending its rally up to next big resistance, the 1.6745 price zone, monthly high for April and May 2011.”
Key Quotes
“With no headlines behind the move, the pair stands around 1.6640 with the 4 hours chart showing indicators maintaining a strong upward momentum despite in extreme overbought levels, with no signs the pair may pull lower at the time being.”
“Immediate support stands at current daily low around 1.6590 and approaches to the level should be seen as buying opportunities towards this year high of 1.6666.”
“A price acceleration beyond 1.6670, should see the pair extending its rally up to next big resistance, the 1.6745 price zone, monthly high for April and May 2011.”