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15 Jan 2015
The Cable held to its weekly gains - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the GBP/USD held to its weekly gains.
Key Quotes:
"...Despite the wild market ride seen elsewhere this Thursday, trading between 1.5148 and 1.5266."
"There was no fundamental data released in the UK, and US one was pretty mixed and far from encouraging, but failed to gather attention during the last sessions. A GBP/USD early rally stalled a couple pips below the weekly low, leaving a mild bearish tone in the 1 hour chart, as per indicators flat below their midlines, and 20 SMA gaining bearish slope above current price."
"In the 4 hours chart, the technical picture has become neutral, with the price hovering around a flat 20 SMA and indicators turning lower and nearing their midlines."
"There is a short term ascendant trend line currently around 1.5130, and a break below it will likely incline the balance to the downside, eyeing a retest of 1.5033 this month low."
Key Quotes:
"...Despite the wild market ride seen elsewhere this Thursday, trading between 1.5148 and 1.5266."
"There was no fundamental data released in the UK, and US one was pretty mixed and far from encouraging, but failed to gather attention during the last sessions. A GBP/USD early rally stalled a couple pips below the weekly low, leaving a mild bearish tone in the 1 hour chart, as per indicators flat below their midlines, and 20 SMA gaining bearish slope above current price."
"In the 4 hours chart, the technical picture has become neutral, with the price hovering around a flat 20 SMA and indicators turning lower and nearing their midlines."
"There is a short term ascendant trend line currently around 1.5130, and a break below it will likely incline the balance to the downside, eyeing a retest of 1.5033 this month low."