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Trading news
21 Apr 2015
GBP/USD comes with a bearish bias sub 1.5000 - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the British Pound extended its decline sub 1.4900 against its American rival, after failing to sustain gains beyond the 1.5000 figure last Friday.
Key Quotes:
"The pair reached a daily low of 1.4887 on the back of dollar's recovery early during the US session, boosted by tepid European data and growing fears of a Grexit."
"The UK calendar will remain quiet also on Tuesday, with investors therefore focused in the upcoming May elections when trading the pair. On Wednesday, the BOE will release the Minutes of its latest meeting, but it won't be until Thursday, with the release of Retail Sales and Public Sector Borrowing data that there will macro news to guide the Pound."
"In the meantime, the pair maintains a short term bearish tone, as the 1 hour chart shows that the price develops below a bearish 20 SMA, whilst the technical indicators head lower below their mid-lines."
"In the 4 hours chart the price broke below its 20 SMA and the 200 EMA, both converging in the 1.4910 region acting now as the immediate intraday resistance, while the technical indicators head lower around their mid-lines, supporting the shorter term view."
Key Quotes:
"The pair reached a daily low of 1.4887 on the back of dollar's recovery early during the US session, boosted by tepid European data and growing fears of a Grexit."
"The UK calendar will remain quiet also on Tuesday, with investors therefore focused in the upcoming May elections when trading the pair. On Wednesday, the BOE will release the Minutes of its latest meeting, but it won't be until Thursday, with the release of Retail Sales and Public Sector Borrowing data that there will macro news to guide the Pound."
"In the meantime, the pair maintains a short term bearish tone, as the 1 hour chart shows that the price develops below a bearish 20 SMA, whilst the technical indicators head lower below their mid-lines."
"In the 4 hours chart the price broke below its 20 SMA and the 200 EMA, both converging in the 1.4910 region acting now as the immediate intraday resistance, while the technical indicators head lower around their mid-lines, supporting the shorter term view."