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The 1.5740 top to contain the upside today for GBP/USD – FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that pound saw a short term demand alongside with EUR but was unable to reach 1.5740 topside which will contain the upside today.

Key Quotes

“Pound saw a short term demand alongside with EUR against the greenback, yet the pair was unable to regain the 1.5700 level.”

“The 1 hour chart shows no directional strength coming from technical readings, although price stands above its 20 SMA and indicators in positive territory. In the 4 hours chart technical readings present a neutral stance, as per price contained for seventh day in a row within range.”

“The top of this last stands around 1.5740 and will probably contain the upside today ahead of tomorrow’s BOE inflation hearings.”

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