19 Jun 2015
GBP/USD scoring 1.5929, fresh 2015 highs - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the British Pound surged to a fresh year high against its American rival of 1.5929 early Europe.
Key Quotes:
"British Pound surged to a fresh year high against its American rival of 1.5929 early Europe, having consolidate nearby for most of the day, before finally posting a mild corrective retracement."
"The Pound rallied, despite the UK Retail Sales slowed in May according to the latest release, rising 4.6% compared to a year before, against expectations of a 4.8% advance."
"The 1 hour chart shows that the pair found short term buying interest in the 1.5850, the immediate short term support for the upcoming hours, as the technical indicators are regaining the upside in positive territory after correcting extreme overbought conditions reached post-FED."
"In the 4 hours chart, the bullish tone prevails, with the 20 SMA heading sharply higher around 1.5700, the Momentum indicator also heading north well above the 100 level and the RSI indicator holding around 72, all of which supports further advances towards the 1.6000 figure."
Key Quotes:
"British Pound surged to a fresh year high against its American rival of 1.5929 early Europe, having consolidate nearby for most of the day, before finally posting a mild corrective retracement."
"The Pound rallied, despite the UK Retail Sales slowed in May according to the latest release, rising 4.6% compared to a year before, against expectations of a 4.8% advance."
"The 1 hour chart shows that the pair found short term buying interest in the 1.5850, the immediate short term support for the upcoming hours, as the technical indicators are regaining the upside in positive territory after correcting extreme overbought conditions reached post-FED."
"In the 4 hours chart, the bullish tone prevails, with the 20 SMA heading sharply higher around 1.5700, the Momentum indicator also heading north well above the 100 level and the RSI indicator holding around 72, all of which supports further advances towards the 1.6000 figure."