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11 Nov 2014
GBP/USD Forecast: waiting for UK employment - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet highlights that there’s little going around the GBP/USD with the pair confined to a tight 25 pips range since Monday American session.
Key Quotes
“With an empty calendar and some holidays across the world, the day may remain uneventful when it comes to Pound, more considering UK employment figures will be released early Wednesday: investors will likely wait until then to build up positions in the pair.”
“Technically, the 4 hours chart presents a mild negative tone, as per price developing below a bearish 20 SMA albeit indicators stand flat, momentum in neutral territory and RSI at 40.”
“The base of the latest range stands at 1.5820/30 so it will take a price acceleration through it to confirm further declines towards the 1.5770 price zone.”
“Above 1.5870 on the other hand, price may surge up to recent highs around 1.5920, but further gains are unlikely for the upcoming 24 hours.”
Key Quotes
“With an empty calendar and some holidays across the world, the day may remain uneventful when it comes to Pound, more considering UK employment figures will be released early Wednesday: investors will likely wait until then to build up positions in the pair.”
“Technically, the 4 hours chart presents a mild negative tone, as per price developing below a bearish 20 SMA albeit indicators stand flat, momentum in neutral territory and RSI at 40.”
“The base of the latest range stands at 1.5820/30 so it will take a price acceleration through it to confirm further declines towards the 1.5770 price zone.”
“Above 1.5870 on the other hand, price may surge up to recent highs around 1.5920, but further gains are unlikely for the upcoming 24 hours.”