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29 Dec 2014
GBP/USD might see a short term upmove – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team notes that GBP/USD technicals point towards a probable short term upmove.
Key Quotes
“The GBP decreased steadily versus the USD since the mid of October. The support line at 1.5492 was strong enough as the price was unable to break through clearly and rebounded. Although it slipped once below this support line it immediately returned in the sideward channel between 1.5804 and 1.5492. On a short term the CCI is indicating a possible upward movement, but further losses may occur.”
Key Quotes
“The GBP decreased steadily versus the USD since the mid of October. The support line at 1.5492 was strong enough as the price was unable to break through clearly and rebounded. Although it slipped once below this support line it immediately returned in the sideward channel between 1.5804 and 1.5492. On a short term the CCI is indicating a possible upward movement, but further losses may occur.”