10 Jul 2014
GBP/USD looks set to resume uptrend - FXStreet
FXStreet (Bali) - GBP/USD seems now ready to resume the upside, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The lack of news in the UK and Europe left the pair at the mercy of stocks and dollar earlier on the day, but again the GBP/USD found buyers on approaches to the 1.7095 static support and seems now ready to resume the upside."
"The hourly chart shows price recovered above its 20 SMA while indicators turned positive above their midlines. In the 4 hours chart price overcame its 20 SMA and indicators aim higher, still in neutral territory. Immediate resistance stands at 1.7180 this year high, with a break above it exposing 1.7250 midterm resistance."
Key Quotes
"The lack of news in the UK and Europe left the pair at the mercy of stocks and dollar earlier on the day, but again the GBP/USD found buyers on approaches to the 1.7095 static support and seems now ready to resume the upside."
"The hourly chart shows price recovered above its 20 SMA while indicators turned positive above their midlines. In the 4 hours chart price overcame its 20 SMA and indicators aim higher, still in neutral territory. Immediate resistance stands at 1.7180 this year high, with a break above it exposing 1.7250 midterm resistance."