17 Jul 2014
GBP/USD hovering around yesterday’s low - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the GBP is experiencing slight pressure today, trading close to the Wednesday low against the USD, possibly due to the weakness in local share markets.
Key quotes
"The movement is still shallow and price remains within these last days’s range."
"As for the technical picture, the 4 hours chart shows price now below a flat 20 SMA as indicators lose upward strength and turn lower around their midlines."
"Immediate support comes at 1.7095, and a break below should lead to a continued slide towards this week low, 1.7060, also 23.6% retracement of the latest bullish daily run."
"To the upside, the pair is still being limited by selling interest in the 1.7150 price zone, and if somehow price manages to accelerate above it, 1.7190 is the immediate target to watch."
Key quotes
"The movement is still shallow and price remains within these last days’s range."
"As for the technical picture, the 4 hours chart shows price now below a flat 20 SMA as indicators lose upward strength and turn lower around their midlines."
"Immediate support comes at 1.7095, and a break below should lead to a continued slide towards this week low, 1.7060, also 23.6% retracement of the latest bullish daily run."
"To the upside, the pair is still being limited by selling interest in the 1.7150 price zone, and if somehow price manages to accelerate above it, 1.7190 is the immediate target to watch."