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Sterling a slow burner before key data - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet has noted the action, or lack there of, around the pound overnight ahead of a key day ahead.

Key Quotes:

“Now retreating from the level, the 1 hour chart anyway maintains a positive tone, with price extending above its 20 SMA and indicators advancing in positive territory”.

“In the 4 hours chart 20 SMA lost its bearish slope below current price, now flat, whilst indicators advance their midlines”.

“Further advances will be dependant of UK employment figures to be released 09:30 GMT and main attention will be put on wages if headlines meet expectations”.

“Critical support is now at 1.5820, and it will take a break below to see the pair resuming its bearish tone”.

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