28 Jul 2014
Pound advances slowly against the greenback - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik sees the GBP strengthening against the US dollar on Monday, hovering close to the 1.7000 level but also confined to a tight range in quiet trading.
Key quotes
“The hourly chart shows momentum heading higher and price above its 20 SMA, while the 4 hours chart shows a strongly bearish 20 SMA capping the upside around the so far daily high of 1.7001.”
“Some upward acceleration above 1.7010 is required to see the pair advancing up to 1.7050/60 price zone, while the downside is exposed on a break below 1.6950.”
Key quotes
“The hourly chart shows momentum heading higher and price above its 20 SMA, while the 4 hours chart shows a strongly bearish 20 SMA capping the upside around the so far daily high of 1.7001.”
“Some upward acceleration above 1.7010 is required to see the pair advancing up to 1.7050/60 price zone, while the downside is exposed on a break below 1.6950.”