27 Jul 2015
GBP/USD door open for further gains? - BBH
FXStreet (Edinburgh) - In the view of analysts at BBH, the pair could be poised for further gains in the next sessions.
Key Quotes
“After rallying from $1.5330 on July 8 to $1.5675 on July 15, sterling has drifted lower”.
“The disappointing and unexpected decline in retail sales warned bottom pickers that they may have been too early”.
“Sterling posted an outside down day on Thursday, and there was follow through selling early Friday”.
“However, sterling stabilized at the 61.8% retracement of the earlier advance and recovered to close near its highs”.
“In doing so, it looks as if a potential hammer candlestick pattern is in place”.
Key Quotes
“After rallying from $1.5330 on July 8 to $1.5675 on July 15, sterling has drifted lower”.
“The disappointing and unexpected decline in retail sales warned bottom pickers that they may have been too early”.
“Sterling posted an outside down day on Thursday, and there was follow through selling early Friday”.
“However, sterling stabilized at the 61.8% retracement of the earlier advance and recovered to close near its highs”.
“In doing so, it looks as if a potential hammer candlestick pattern is in place”.