20 Jan 2014
Flash: GBP/USD short term bullish - FXstreet
FXstreet.com (Barcelona) - Valeria Bednarik, Chief Analyst at FXstreet.com holds a bullish view for GBP/USD in the short term.
Key Quotes
“As usual the week starts in slow motion, with major currencies erasing with the European opening the losses of Asian session, albeit confined to tight ranges. The GBP/USD bounces from a daily low of 1.6394, but the lack of local data along with US holiday, keeps price action limited showing no actual follow through.”
“As for the 4 hours chart, technical readings present a bullish tone, with price above its moving averages, and indicators heading north above their midlines, and the battle around 200 EMA over the last few days won by buyers.”
“Nevertheless, the pair is far from clearly confirming further advances, with 1.6500 still the key resistance to overcome to reverse latest bearish tone. In the short term, a price acceleration above 1.6460 should favor an advance towards mentioned level, while a break below 1.6390 should expose the pair to another leg down, towards 1.6320/40 price zone.”
Key Quotes
“As usual the week starts in slow motion, with major currencies erasing with the European opening the losses of Asian session, albeit confined to tight ranges. The GBP/USD bounces from a daily low of 1.6394, but the lack of local data along with US holiday, keeps price action limited showing no actual follow through.”
“As for the 4 hours chart, technical readings present a bullish tone, with price above its moving averages, and indicators heading north above their midlines, and the battle around 200 EMA over the last few days won by buyers.”
“Nevertheless, the pair is far from clearly confirming further advances, with 1.6500 still the key resistance to overcome to reverse latest bearish tone. In the short term, a price acceleration above 1.6460 should favor an advance towards mentioned level, while a break below 1.6390 should expose the pair to another leg down, towards 1.6320/40 price zone.”