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11 Feb 2014
Flash: GBP/USD holding above key level - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that Pound has found some favor so far this Tuesday, with another quiet journey underway.
Key Quotes
“Japan has been on holidays, leaving the Asian session with low volumes, while no data had been released for Europe or the UK today, leaving the calendar empty ahead of Janet Yellen’s first testimony in front of the Senate. The incoming head of the FED is expected to bring no new information, although market players hope to get some tips over upcoming economic movements.”
“Also, stocks are positive across the world taking off risk sentiment, and keeping the greenback under pressure against most rivals: the GBP/USD reached a fresh 6-day high of 1.6439, hitting by the pip its 20 DMA, before retracing some.”
“Holding above the key Fibonacci support around 1.6415, the 4 hours chart shows indicators still heading north in positive territory, supporting and advance towards 1.6460 area, 50% retracement of the same Fibonacci run. Lose of the mentioned 1.6415 support however, may jeopardize such recovery and see price dipping towards 1.6370/80 area before finding some short term buyers.”
Key Quotes
“Japan has been on holidays, leaving the Asian session with low volumes, while no data had been released for Europe or the UK today, leaving the calendar empty ahead of Janet Yellen’s first testimony in front of the Senate. The incoming head of the FED is expected to bring no new information, although market players hope to get some tips over upcoming economic movements.”
“Also, stocks are positive across the world taking off risk sentiment, and keeping the greenback under pressure against most rivals: the GBP/USD reached a fresh 6-day high of 1.6439, hitting by the pip its 20 DMA, before retracing some.”
“Holding above the key Fibonacci support around 1.6415, the 4 hours chart shows indicators still heading north in positive territory, supporting and advance towards 1.6460 area, 50% retracement of the same Fibonacci run. Lose of the mentioned 1.6415 support however, may jeopardize such recovery and see price dipping towards 1.6370/80 area before finding some short term buyers.”