OctaFX | OctaFX Forex Broker
Open trading account
Back

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.”

United States Markit Services PMI registered at 56.3, below expectations (56.8) in November

Read more Previous

United States Markit PMI Composite down to 56.1 in November from previous 57.2

Read more Next
Start livechat