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3 Mar 2015
GBP/USD: Gearing up for a busier session ahead
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5360 with a high 1.5399 and a low of 1.5343.
GBP/USD is stabalising on the 1.5360 level, with supply at 1.5390 protecting the 1.54 handle with plenty of congestion sighted there. there has been little in the way of data to trade upon. Later on we have Yellen talking and Evan's tomorrow and number of data releases to stoke the fire.
Technically, we are neutral/bearish. Valeria Bednarik, chief analyst at FXStreet explained that in the short term and according to the 1 hour chart, the technical indicators are heading lower right below their mid-lines, whilst the price pressures a flat 20 SMA a few pips below the current level, supporting another leg south. "In the 4 hours chart the overall bias is bearish, with the price developing below its 20 SMA, the Momentum indicator heading south below 100 and the RSI indicator hovering around 40."
GBP/USD is stabalising on the 1.5360 level, with supply at 1.5390 protecting the 1.54 handle with plenty of congestion sighted there. there has been little in the way of data to trade upon. Later on we have Yellen talking and Evan's tomorrow and number of data releases to stoke the fire.
Technically, we are neutral/bearish. Valeria Bednarik, chief analyst at FXStreet explained that in the short term and according to the 1 hour chart, the technical indicators are heading lower right below their mid-lines, whilst the price pressures a flat 20 SMA a few pips below the current level, supporting another leg south. "In the 4 hours chart the overall bias is bearish, with the price developing below its 20 SMA, the Momentum indicator heading south below 100 and the RSI indicator hovering around 40."