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GBP/USD dampened on rate outlook – FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the pound advanced up to 1.5676 against the greenback.

Key Quotes:

“But the UK currency maintains the negative tone after latest local economic developments, pointing for no rate hikes in the kingdom during 2015”.

“The technical picture goes along with the fundamental one, with the GBP/USD 1 hour chart showing price barely holding above a bearish 20 SMA and indicators struggling to maintain the positive territory after correcting extreme oversold readings reached last Friday”.

“In the 4 hours chart the technical picture is pretty much alike, with indicators bouncing from oversold readings but 20 SMA presenting a strongly bearish lope in the 1.5770 price zone, also strong static resistance in case of further recoveries”.

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