9 Jun 2014
GBP/USD trading around the 1.6800 level - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst points out that having faltered around the daily descendant trend line coming from this year high, the GBP/USD managed to hold its latest recovered ground: the pair trades around the 1.6800 figure, finding short term buyers in the 1.6770/80 price zone.
Key quotes
“The hourly chart shows price hovering around a flat 20 SMA, while indicators stand directionless around their midlines.”
“In the 4 hours chart price stands above 200 EMA currently at 1.6770 and above 20 SMA that presents a nice bullish slope; nevertheless, indicators are losing upward momentum and turned lower, still above their midlines.”
“Risk of a downward movement should increase on a break below 1.6770, while steady gains above 1.6845 are required to confirm renewed strength towards 1.6920 price zone.”
Key quotes
“The hourly chart shows price hovering around a flat 20 SMA, while indicators stand directionless around their midlines.”
“In the 4 hours chart price stands above 200 EMA currently at 1.6770 and above 20 SMA that presents a nice bullish slope; nevertheless, indicators are losing upward momentum and turned lower, still above their midlines.”
“Risk of a downward movement should increase on a break below 1.6770, while steady gains above 1.6845 are required to confirm renewed strength towards 1.6920 price zone.”