11 Jul 2014
Pound strength notable and upside bias remains - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet said it was another day in the US for the Pound to prove it is the strongest currency of the board.
Key Quotes:
“Despite UK trade balance disappointed with a widening deficit, the GBP/USD ended the day barely 10 pips below its daily opening”.
“The hourly chart shows buyers surged on approaches to the 1.7100 level, with indicators heading north still below their midlines as price stands now above its 20 SMA. In the 4 hours chart technical positive are mild bullish, but for the most neutral as per latest range”.
“Nevertheless, the upside is still favored with a break above 1.7180 pointing for an upward continuation towards 1.7250 strong static resistance zone”.
Key Quotes:
“Despite UK trade balance disappointed with a widening deficit, the GBP/USD ended the day barely 10 pips below its daily opening”.
“The hourly chart shows buyers surged on approaches to the 1.7100 level, with indicators heading north still below their midlines as price stands now above its 20 SMA. In the 4 hours chart technical positive are mild bullish, but for the most neutral as per latest range”.
“Nevertheless, the upside is still favored with a break above 1.7180 pointing for an upward continuation towards 1.7250 strong static resistance zone”.