9 Apr 2015
GBP/USD is in neutral above 1.4800 - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that GBP/USD surged to a fresh weekly high of 1.4972.
Key Quotes:
"Finding support in a merger announcement, as Royal Dutch Shell has announced it is to buy BG Group for £47bn, in one of the biggest deals in years."
"The UK will release its Trade Balance figures on Thursday, which may give some support to the currency that, despite the wide intraday moves, continues to trade against the greenback in the 1.4800/1.5000 area."
"In the short term, the 1 hour chart shows that the price broke below its 20 SMA, whilst the technical indicators turned sharply lower from overbought territory, and approach their mid-lines."
"In the 4 hours chart, the price is again below a still directionless 20 SMA, whilst the technical indicators extended their decline in negative territory, maintaining a neutral-to-bearish technical stance. A break below 1.4800 is required to confirm further declines towards the 1.4740 level, this month low."
Key Quotes:
"Finding support in a merger announcement, as Royal Dutch Shell has announced it is to buy BG Group for £47bn, in one of the biggest deals in years."
"The UK will release its Trade Balance figures on Thursday, which may give some support to the currency that, despite the wide intraday moves, continues to trade against the greenback in the 1.4800/1.5000 area."
"In the short term, the 1 hour chart shows that the price broke below its 20 SMA, whilst the technical indicators turned sharply lower from overbought territory, and approach their mid-lines."
"In the 4 hours chart, the price is again below a still directionless 20 SMA, whilst the technical indicators extended their decline in negative territory, maintaining a neutral-to-bearish technical stance. A break below 1.4800 is required to confirm further declines towards the 1.4740 level, this month low."