3 Dec 2014
GBP/USD steady midrange – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that GBP/USD trades steadily today due to the better than expected UK Services PMI, avoiding the USD strength for the time being.
Key Quotes
“The GBP/USD trades unchanged on the day, avoiding dollar strength thanks to a better than expected UK Services PMI, showing Britain's services sector expanded faster in November. The pair hovers around the 1.5650 level, with little directional strength according to technical readings, with the pair trading halfway of the daily range.”
“The 4 hours chart shows 20 SMA offering intraday resistance around the 1.5670 level, while indicators stand flat around their midlines, giving no clues on upcoming direction.”
“The daily low was so far set at 1.5618, and downward acceleration below it to see the pair gaining bearish strength towards 1.5584 the year low set past week. Above mentioned resistance, next one comes at the 1.5720/40 area, probable top for the day if reached.”
Key Quotes
“The GBP/USD trades unchanged on the day, avoiding dollar strength thanks to a better than expected UK Services PMI, showing Britain's services sector expanded faster in November. The pair hovers around the 1.5650 level, with little directional strength according to technical readings, with the pair trading halfway of the daily range.”
“The 4 hours chart shows 20 SMA offering intraday resistance around the 1.5670 level, while indicators stand flat around their midlines, giving no clues on upcoming direction.”
“The daily low was so far set at 1.5618, and downward acceleration below it to see the pair gaining bearish strength towards 1.5584 the year low set past week. Above mentioned resistance, next one comes at the 1.5720/40 area, probable top for the day if reached.”