2 May 2014
GBP/USD trading lower in range
FXStreet (Edinburgh) - In the opinion of Valeria Bednarik, Currency Analyst at FXStreet, the GBP/USD still remains bullish despite some signals showing exhaustion.
Key Quotes
“A daily ascendant trend line coming from 1.6548 stands today around 1.6840, offering then immediate short term support in case of slides”.
“Despite indicators are slightly exhausted to the upside, the dominant trend is still bullish, with a break above 1.6920 pointing for an upward extension towards the 1.6960 price zone, in route to critical 1.7000 figure”.
Key Quotes
“A daily ascendant trend line coming from 1.6548 stands today around 1.6840, offering then immediate short term support in case of slides”.
“Despite indicators are slightly exhausted to the upside, the dominant trend is still bullish, with a break above 1.6920 pointing for an upward extension towards the 1.6960 price zone, in route to critical 1.7000 figure”.