14 Aug 2013
Flash: GBP/USD ahead of BoE Minutes - Commerzbank
FXstreet.com (Barcelona) - With the markets attention turning to the BoE Minutes and UK Claimants data Analyst, Axel Rudolph at Commerzbank looks at the techincals.
Key Quotes:
"...while the 200 day moving average at 1.5526 caps, further weakness remains in store".
"... since last week’s rally looks directional we still have to allow for a stab to the 1.5605/58 resistance area unfolding".
"It consists of the May peak and uptrend channel resistance line".
"If overcome, a challenge of the 1.5752/55 June high and the 200-week moving average could still be seen. GBP/USD will remain overall bid while trading above the two month uptrend channel line at 1.5233".
Key Quotes:
"...while the 200 day moving average at 1.5526 caps, further weakness remains in store".
"... since last week’s rally looks directional we still have to allow for a stab to the 1.5605/58 resistance area unfolding".
"It consists of the May peak and uptrend channel resistance line".
"If overcome, a challenge of the 1.5752/55 June high and the 200-week moving average could still be seen. GBP/USD will remain overall bid while trading above the two month uptrend channel line at 1.5233".