18 Jun 2014
GBP/USD eases easing amid disappointing BOE Minutes - FXStreet
FXStreet (Łódź) - Following the release of disappointing BoE monetary policy meeting minutes, the pound is trading at fresh weekly lows against the greenback, FXStreet Chief Analyst Valeria Bednarik observes.
Key quotes
"After past week Carney’s words of a sooner rate hike, market players were hoping to see a change in the 0-0-9 vote today to confirm it. But members voted unanimously for a no change, resulting in a mild dovish document."
"Technically, the 4 hours chart shows an increasing bearish momentum, as the indicator accelerates south below its midline, while price finally gave up and stands below its 20 SMA and former short term support of 1.6950."
"Immediate support is now in the 1.6920 price zone, and short term, buyers are expected to surge on approaches. A break lower however, may see the pair extending its slide down to 1.6870 price zone, more likely in the US afternoon and with the FED."
"A recovery above afore mentioned 1.6950 on the other hand, will diminish chances of further downward moves, looking for another approach to the 1.7000 figure, in route to 1.7040, August 2009 monthly high."
Key quotes
"After past week Carney’s words of a sooner rate hike, market players were hoping to see a change in the 0-0-9 vote today to confirm it. But members voted unanimously for a no change, resulting in a mild dovish document."
"Technically, the 4 hours chart shows an increasing bearish momentum, as the indicator accelerates south below its midline, while price finally gave up and stands below its 20 SMA and former short term support of 1.6950."
"Immediate support is now in the 1.6920 price zone, and short term, buyers are expected to surge on approaches. A break lower however, may see the pair extending its slide down to 1.6870 price zone, more likely in the US afternoon and with the FED."
"A recovery above afore mentioned 1.6950 on the other hand, will diminish chances of further downward moves, looking for another approach to the 1.7000 figure, in route to 1.7040, August 2009 monthly high."