26 Nov 2014
GBP/USD pressuring the top of the range – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, the consolidative mode for GBP/USD will continue only for the short term as the pair is seen pressuring the top of the range.
Key Quotes
“Technically, the 4 hours chart presents a neutral to bullish stance, with price pressuring the high of these last 2 weeks range and developing above a flat 20 SMA, as indicators aim slightly higher above their midlines, showing no actual upward momentum at the time being.”
“Some follow through above afore mentioned resistance should favor an upward continuation, yet larger stops lay right above the 1.5770 mark, critical resistance: above this last, expect the pair to run firmly up to 1.5820/30 price zone.“
“To the downside 1.5660 is the support to follow, as it will be with a break below that the pair will turn intraday bearish, looking then for a move down to 1.5600/20 price zone.”
Key Quotes
“Technically, the 4 hours chart presents a neutral to bullish stance, with price pressuring the high of these last 2 weeks range and developing above a flat 20 SMA, as indicators aim slightly higher above their midlines, showing no actual upward momentum at the time being.”
“Some follow through above afore mentioned resistance should favor an upward continuation, yet larger stops lay right above the 1.5770 mark, critical resistance: above this last, expect the pair to run firmly up to 1.5820/30 price zone.“
“To the downside 1.5660 is the support to follow, as it will be with a break below that the pair will turn intraday bearish, looking then for a move down to 1.5600/20 price zone.”