18 Feb 2015
GBP/USD pressuring the weekly high – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest GBP/USD might extend further to the upside, with a break above 1.1450 expected to take the pair higher towards 1.5500 levels.
Key Quotes
“The GBP/USD soared towards its weekly high after the release of local employment figures and the latest BOE's Minutes.”
“The 4 hours chart shows that the price broke above its 20 SMA, while the indicators turned higher and are now crossing their midlines to the upside, anticipating some further advances, particularly if the price breaks above 1.5450 the immediate resistance level: beyond it, the pair should extend its advance up to the key 1.5500 figure.”
“A break below 1.5400 on the other hand, may see the pair falling back towards the 1.5330/50 area, where buyers are expected to continue defending the downside.”
Key Quotes
“The GBP/USD soared towards its weekly high after the release of local employment figures and the latest BOE's Minutes.”
“The 4 hours chart shows that the price broke above its 20 SMA, while the indicators turned higher and are now crossing their midlines to the upside, anticipating some further advances, particularly if the price breaks above 1.5450 the immediate resistance level: beyond it, the pair should extend its advance up to the key 1.5500 figure.”
“A break below 1.5400 on the other hand, may see the pair falling back towards the 1.5330/50 area, where buyers are expected to continue defending the downside.”