17 Jan 2014
Flash: GBP/USD set for technical decline? - Investec
FXstreet.com (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec notes that technicians believe that GBP/USD could be positioning for a decline.
Key Quotes
"The dollar is set for its biggest weekly advance against major peers in two months, on the back of a run of solid data releases this week - Retail Sales, Initial Jobless claims and New York manufacturing all beat economists’ forecasts. Yesterday however was a relatively quiet day in markets and the USD barely moved overnight in a subdued session."
"EUR/USD is sticking around the 1.36 level and GBP/USD is hovering around the 2014 lows. Technical analysts are still monitoring the 1.6260 support level – if we see a close below this level it could signal a follow through lower in the currency pair."
Key Quotes
"The dollar is set for its biggest weekly advance against major peers in two months, on the back of a run of solid data releases this week - Retail Sales, Initial Jobless claims and New York manufacturing all beat economists’ forecasts. Yesterday however was a relatively quiet day in markets and the USD barely moved overnight in a subdued session."
"EUR/USD is sticking around the 1.36 level and GBP/USD is hovering around the 2014 lows. Technical analysts are still monitoring the 1.6260 support level – if we see a close below this level it could signal a follow through lower in the currency pair."