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20 Nov 2014
Sterling fending off the bears on the Fed - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the pound extended its early gains against the greenback, trying to extend them above the 1.5700 figure after FED’s news.
Key Quotes:
“Technically, the pair seems to be developing a double bottom daily basis around 1.5585, albeit the neckline of the figure stands at 1.5740, November 17th high, which means further gains above it are required to confirm it”.
“The level to watch to the downside is 1.5650, as a price decline below it should deny the possibility of a recovery and favor a decline back towards 1.5600/10 price zone”.
Key Quotes:
“Technically, the pair seems to be developing a double bottom daily basis around 1.5585, albeit the neckline of the figure stands at 1.5740, November 17th high, which means further gains above it are required to confirm it”.
“The level to watch to the downside is 1.5650, as a price decline below it should deny the possibility of a recovery and favor a decline back towards 1.5600/10 price zone”.