15 Apr 2014
GBP/USD buyers defending 1.6660
FXStreet (Edinburgh) - In the view of Valeria Bednarik, Currency Analyst at FXStreet, pullbacks in the GBP/USD would find strong support around the 1.6660 area.
Key Quotes
“The GBP/USD is in a rollercoaster after a bunch of mixed data, for the most positive: inflation readings came in line with expectations, with the monthly reading down from 1.7% to 1.6% triggering the initial kneejerk to 1.6654, albeit PPI missed expectations and remained low”.
“The 4 hours chart shows a slightly bearish tone prevails albeit price is well below its 20 SMA that turns lower and offers now dynamic resistance around 1.6745, while indicators head south entering negative territory”.
Key Quotes
“The GBP/USD is in a rollercoaster after a bunch of mixed data, for the most positive: inflation readings came in line with expectations, with the monthly reading down from 1.7% to 1.6% triggering the initial kneejerk to 1.6654, albeit PPI missed expectations and remained low”.
“The 4 hours chart shows a slightly bearish tone prevails albeit price is well below its 20 SMA that turns lower and offers now dynamic resistance around 1.6745, while indicators head south entering negative territory”.