GBP/USD eases within range – FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that GBP/USD pair eases within range after another round of BOE’s inflation hearings brought nothing new to the table.

Key Quotes

“Technically, the 1 hour chart shows price extending below a bearish 20 SMA while indicators head south into negative territory.”

“In the 4 hours chart the technical picture is neutral to bearish, with price moving back and forth around a flat 20 SMA as indicators enter negative territory.”

“Price needs to break below 1.5620 to confirm further declines, expecting them a break to fresh year lows near the 1.5550 price zone.”