26 Jun 2014
GBP/USD unable to recapture 1.7000 on Wednesday - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik believes that the pound may have been the worst performer of the day against the greenback, as the GBP/USD was unable to recapture 1.7000 on Wednesday.
Key quotes
"Having however bounced from 1.6950 strong static support level, the risk to the downside remains limited."
"Technically, the hourly chart shows price hovering around its 20 SMA and indicators flat around their midlines, maintaining a neutral stance."
"In the 4 hours chart the technical picture is bearish, as per 20 SMA capping the upside around mentioned 1.7000 figure, and indicators heading slightly down below their midlines."
"Price needs to establish above 1.7010 to be able now to recover the upward tone, while a break below 1.6950 exposes the pair to a stronger slide this Thursday."
Key quotes
"Having however bounced from 1.6950 strong static support level, the risk to the downside remains limited."
"Technically, the hourly chart shows price hovering around its 20 SMA and indicators flat around their midlines, maintaining a neutral stance."
"In the 4 hours chart the technical picture is bearish, as per 20 SMA capping the upside around mentioned 1.7000 figure, and indicators heading slightly down below their midlines."
"Price needs to establish above 1.7010 to be able now to recover the upward tone, while a break below 1.6950 exposes the pair to a stronger slide this Thursday."