21 Jul 2014
GBP/USD sliding towards 1.7060 support - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observed that after being unable to regain the 1.7100 level earlier on Monday, the GBP/USD is dropping towards the 1.7060 support.
Key quotes
"The hourly chart shows price extending below its 20 SMA while indicators turn south below their midlines, supporting some downward extension in the short term."
"In the 4 hours chart technical readings also present a bearish tone, with a break below mentioned support exposing the 1.7020/30 price zone."
Key quotes
"The hourly chart shows price extending below its 20 SMA while indicators turn south below their midlines, supporting some downward extension in the short term."
"In the 4 hours chart technical readings also present a bearish tone, with a break below mentioned support exposing the 1.7020/30 price zone."