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31 Dec 2014
GBP/USD pressuring the weekly high – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet shares that the GBP/USD pair is pressuring its weekly high, further anticipating price to rise towards the 1.5620 levels if the pair breaks above the weekly high.
Key Quotes
“The market is extremely quiet in this last trading day of the year, with the GBP/USD pair pressuring the weekly high established last Monday at 1.5585.”
“The downward corrective movement against the greenback continues in a moderate pace all through the forex board, exception made by the EUR/USD that remains flat around 1.2150.“
“There were no catalysts to move the markets during Asian hours, and the main events of the day will come in a few hours, with US unemployment claims, pending home sales and Chicago PMI.”
“Technically, the 4 hours chart presents a quite neutral stance due to the lack of volatility surrounding the pair, although price stands above its 20 SMA and indicators in positive territory, which supports some limited advance towards the 1.5620 price zone, particularly if the weekly high gives up.”
“The immediate support comes at 1.5550, with a break below it exposing the pair to a decline towards the 1.5510/20 price zone.”
Key Quotes
“The market is extremely quiet in this last trading day of the year, with the GBP/USD pair pressuring the weekly high established last Monday at 1.5585.”
“The downward corrective movement against the greenback continues in a moderate pace all through the forex board, exception made by the EUR/USD that remains flat around 1.2150.“
“There were no catalysts to move the markets during Asian hours, and the main events of the day will come in a few hours, with US unemployment claims, pending home sales and Chicago PMI.”
“Technically, the 4 hours chart presents a quite neutral stance due to the lack of volatility surrounding the pair, although price stands above its 20 SMA and indicators in positive territory, which supports some limited advance towards the 1.5620 price zone, particularly if the weekly high gives up.”
“The immediate support comes at 1.5550, with a break below it exposing the pair to a decline towards the 1.5510/20 price zone.”