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9 Jan 2015
GBP/USD printed fresh 18 month lows - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the The GBP/USD pair fell to a fresh 18-month low of 1.5033.
Key Quotes:
"..but erased all of its intraday losses by the end of the day, closing it where it started, just above the 1.5100 level".
"The UK released its Halifax House Price Index earlier on the day, showing that annual prices’ growth eased further, down to 7.8% in December. Moderating house prices all through this last semester has resulted in less pressure to tighten the economic policy over the Bank of England, and while positive for the economy, turns out to be negative for the Pound as a speculative investment for traders."
"The BOE has had its monthly economic policy meeting also this Thursday, but as usual, it has been a non-event".
"Technically, the pair has set a lower low and a lower high daily basis something that maintains the dominant bearish trend intact. Short term, the 1 hour chart shows that the price retraces from a session high of 1.5117 towards a bearish 20 SMA, whilst indicators turned lower towards their midlines".
"In the 4 hours chart indicators had barely corrected oversold readings before losing their upward strength, while 20 SMA remains above current price, currently around 1.5150. As long as below this last, the risk remains to the downside, eyeing a test of the 1.50 level still".
Key Quotes:
"..but erased all of its intraday losses by the end of the day, closing it where it started, just above the 1.5100 level".
"The UK released its Halifax House Price Index earlier on the day, showing that annual prices’ growth eased further, down to 7.8% in December. Moderating house prices all through this last semester has resulted in less pressure to tighten the economic policy over the Bank of England, and while positive for the economy, turns out to be negative for the Pound as a speculative investment for traders."
"The BOE has had its monthly economic policy meeting also this Thursday, but as usual, it has been a non-event".
"Technically, the pair has set a lower low and a lower high daily basis something that maintains the dominant bearish trend intact. Short term, the 1 hour chart shows that the price retraces from a session high of 1.5117 towards a bearish 20 SMA, whilst indicators turned lower towards their midlines".
"In the 4 hours chart indicators had barely corrected oversold readings before losing their upward strength, while 20 SMA remains above current price, currently around 1.5150. As long as below this last, the risk remains to the downside, eyeing a test of the 1.50 level still".