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31 Dec 2014
GBP/USD in neutral ahead on 1.55 handle - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted how GBP/USD surged to a daily high of 1.5573 on the back of general dollar weakness, stalling short from Monday high of 1.5585.
Key Quotes:
“There was no relevant data released in the UK and things won’t get interest until Friday, when Markit Manufacturing PMI and money data will be released”.
“In the meantime and from a technical point of view, the pair recovered above a daily descendant trend line coming from Dec 16 high at 1.5785, and maintains a short term positive tone early Asian session, as the 1 hour chart shows indicators heading higher above their midlines and 20 SMA gaining bullish slope also below current price”.
“In the 4 hours chart however, indicators maintain a quite neutral stance as per laying horizontal around their midlines whilst 20 SMA also stands flat a few pips below current price”.
“The recovery could extend only if the prices manages to overcome 1.5585, Monday high and immediate resistance level, aiming then for an advance up to 1.5620 in the shorter term”.
Key Quotes:
“There was no relevant data released in the UK and things won’t get interest until Friday, when Markit Manufacturing PMI and money data will be released”.
“In the meantime and from a technical point of view, the pair recovered above a daily descendant trend line coming from Dec 16 high at 1.5785, and maintains a short term positive tone early Asian session, as the 1 hour chart shows indicators heading higher above their midlines and 20 SMA gaining bullish slope also below current price”.
“In the 4 hours chart however, indicators maintain a quite neutral stance as per laying horizontal around their midlines whilst 20 SMA also stands flat a few pips below current price”.
“The recovery could extend only if the prices manages to overcome 1.5585, Monday high and immediate resistance level, aiming then for an advance up to 1.5620 in the shorter term”.