14 Apr 2014
GBP/USD right where it started
FXStreet (Buenos Aires) - With no data coming from the UK, Pound had a pretty uneventful day, with the GBP/USD spending ending the US session where it started past Asian one, around 1.6725. The daily chart shows a clear doji albeit the intraday range hardly reaches 50 pips, giving no additional data to traders.
Technically, and according to Valeria Bednarik, FXstreet.com chief analyst, the pair is still ruled by bulls as she states: “A short term dip below 1.6700 triggered a quick bounce reflecting not enough selling interest at the time being.” She also adds that despite the lack of clear direction in the pair, “steady gains above 1.6750 are required to confirm further advances, while downside corrective movements can extend down to 1.6660 without really affecting the dominant bullish trend.”
Technically, and according to Valeria Bednarik, FXstreet.com chief analyst, the pair is still ruled by bulls as she states: “A short term dip below 1.6700 triggered a quick bounce reflecting not enough selling interest at the time being.” She also adds that despite the lack of clear direction in the pair, “steady gains above 1.6750 are required to confirm further advances, while downside corrective movements can extend down to 1.6660 without really affecting the dominant bullish trend.”