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27 Mar 2014
GBP/USD eyeing now 1.6720 price zone
FXStreet (Edinburgh) - In the opinion of Valeria Bednarik, Currency Strategist at FXStreet, the scenario in GBP/USD has now turned to the bullish camp.
Key Quotes
“The 4 hours chart shows indicators maintaining a strong upward momentum, with 20 SMA advancing higher below current price, which also accelerated beyond 200 EMA, usually a strong midterm resistance/support”.
“The picture has turned bullish in the pair, as the downward corrective movement completed right around the 61.8% retracement of the latest bullish run: immediate resistance comes at the 1.6650/60 price zone, where the pair presents several intraday highs and lows”.
Key Quotes
“The 4 hours chart shows indicators maintaining a strong upward momentum, with 20 SMA advancing higher below current price, which also accelerated beyond 200 EMA, usually a strong midterm resistance/support”.
“The picture has turned bullish in the pair, as the downward corrective movement completed right around the 61.8% retracement of the latest bullish run: immediate resistance comes at the 1.6650/60 price zone, where the pair presents several intraday highs and lows”.