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28 Jan 2015
GBP/USDD: 1.5330 on the cards? - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, explained that GBP/USD posted a strong intraday advance.
Key Quotes:
"Considering it bounced from a daily low of 1.5054 reached after UK GDP release."
"In the European morning, news showed the UK economic growth slowed more than expected in 2014 as it only grew 0.5% in the last quarter of the year, leaving the annual rate at 2.7%. But strong demand surged on former highs and the pair finally triggered stops above 1.5125, reaching 1.5224 fresh 2-weeks high."
"Technically, the pair remains biased higher, as the 1 hour chart shows 20 SMA advancing strongly higher well below current price, whilst indicators turn flat in overbought territory, far from signaling an upcoming downward move. In the 4 hours chart indicators also present a strong bullish tone, supporting the shorter term view."
"A break above mentioned high should lead to an advance up to 1.5330, 200 EMA in this last time frame, while bulls may hesitate if price eases back below the 1.5120/30 price zone."
Key Quotes:
"Considering it bounced from a daily low of 1.5054 reached after UK GDP release."
"In the European morning, news showed the UK economic growth slowed more than expected in 2014 as it only grew 0.5% in the last quarter of the year, leaving the annual rate at 2.7%. But strong demand surged on former highs and the pair finally triggered stops above 1.5125, reaching 1.5224 fresh 2-weeks high."
"Technically, the pair remains biased higher, as the 1 hour chart shows 20 SMA advancing strongly higher well below current price, whilst indicators turn flat in overbought territory, far from signaling an upcoming downward move. In the 4 hours chart indicators also present a strong bullish tone, supporting the shorter term view."
"A break above mentioned high should lead to an advance up to 1.5330, 200 EMA in this last time frame, while bulls may hesitate if price eases back below the 1.5120/30 price zone."