4 Jun 2015
GBP/USD: EUR demand carried cable - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that GBP/USD got benefited by EUR demand.
Key Quotes:
"Surging up to 1.5440 during European hours, before profit taking and dollar demand sent it back below the 1.5400 level."
"The Bank of England had its monthly economic meeting this Thursday, but left its economic policy unchanged as largely anticipated, delaying market's attention by two weeks, when the Central Bank will release the Minutes of this meeting."
"Nevertheless, the pair closed in the green, and maintains a tepid positive short term tone in the short term, with the 1 hour chart showing that the price held above a bullish 20 SMA, currently around 1.5360, whilst the technical indicators head slightly higher in positive territory, after correcting overbought readings."
"In the 4 hours chart the pair recovered above the 200 EMA that now acts as dynamic support around 1.5340. In this last chart, the technical indicators head slightly higher above their mid-lines, whilst the 20 SMA aims higher around the 1.5300 figure, all of which supports some additional gains for this Friday."
Key Quotes:
"Surging up to 1.5440 during European hours, before profit taking and dollar demand sent it back below the 1.5400 level."
"The Bank of England had its monthly economic meeting this Thursday, but left its economic policy unchanged as largely anticipated, delaying market's attention by two weeks, when the Central Bank will release the Minutes of this meeting."
"Nevertheless, the pair closed in the green, and maintains a tepid positive short term tone in the short term, with the 1 hour chart showing that the price held above a bullish 20 SMA, currently around 1.5360, whilst the technical indicators head slightly higher in positive territory, after correcting overbought readings."
"In the 4 hours chart the pair recovered above the 200 EMA that now acts as dynamic support around 1.5340. In this last chart, the technical indicators head slightly higher above their mid-lines, whilst the 20 SMA aims higher around the 1.5300 figure, all of which supports some additional gains for this Friday."