30 Jun 2014
Pound opens the week on a slightly stronger note - FXStreet
FXStreet Chief Analyst Valeria Bednarik remarks that the GBP opened the week on a tad stronger at 1.7035, following BOE’s members jawboning.
Key quotes
"Deputy Governor Charlie Bean, said that market expectations of a rise in UK interest rates at the turn of the year are 'reasonable” while Executive Director for financial stability and risk, Spencer Dale, saying that it is not their job to control house prices, probably the higher risk for the economic recovery these days."
"The GBP/USD trades near its year high of 1.7061 still within a symmetrical triangle, and with the hourly chart showing price crossing above a flat 20 SMA and indicators still in neutral territory."
"In the 4 hours chart indicators stand in positive territory but with no actual strength, suggesting further advances are required to confirm a new leg up, most likely with a break above mentioned high of 1.7061."
Key quotes
"Deputy Governor Charlie Bean, said that market expectations of a rise in UK interest rates at the turn of the year are 'reasonable” while Executive Director for financial stability and risk, Spencer Dale, saying that it is not their job to control house prices, probably the higher risk for the economic recovery these days."
"The GBP/USD trades near its year high of 1.7061 still within a symmetrical triangle, and with the hourly chart showing price crossing above a flat 20 SMA and indicators still in neutral territory."
"In the 4 hours chart indicators stand in positive territory but with no actual strength, suggesting further advances are required to confirm a new leg up, most likely with a break above mentioned high of 1.7061."