26 Mar 2014
GBP/USD still a long way to go - FXStreet
FXStreet (Edinburgh) - Currency Analyst Valeria Bedanarik at FXStreet sees further upside once GBP/USD manages to break above 1.6570.
Key Quotes
"With little follow through over these last few days the GBP/USD seems to have bottomed around 1.6470, 61.8% retracement of its latest bullish run, calculated from 1.6250 to 1.6821".
"But there’s still a long way to go to call for a stronger recovery in Pound: the pair has remains unable to sustain gains beyond 1.6535, 50% retracement of the same rally, and pulled back to the 1.6520 price zone".
Key Quotes
"With little follow through over these last few days the GBP/USD seems to have bottomed around 1.6470, 61.8% retracement of its latest bullish run, calculated from 1.6250 to 1.6821".
"But there’s still a long way to go to call for a stronger recovery in Pound: the pair has remains unable to sustain gains beyond 1.6535, 50% retracement of the same rally, and pulled back to the 1.6520 price zone".