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30 Jul 2014
GBP/USD holding so far above 1.6900 - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik sees the GBP/USD staying above the 1.6900 level, with the downside limited despite the general strength of the greenback.
Key quotes
“Nevertheless, the pair has broke below a daily ascendant trend line coming from October last year, and the hourly chart presents a strong bearish tone, with 20 SMA heading lower and converging with the broken trend line at 1.6950, and indicators heading strongly south near oversold levels.”
“The 4 hours chart also presents a bearish bias, although the movements are expected to remain limited.”
Key quotes
“Nevertheless, the pair has broke below a daily ascendant trend line coming from October last year, and the hourly chart presents a strong bearish tone, with 20 SMA heading lower and converging with the broken trend line at 1.6950, and indicators heading strongly south near oversold levels.”
“The 4 hours chart also presents a bearish bias, although the movements are expected to remain limited.”