Friday, October 16, 2015

GBP/USD above MA's and bullish - FXStreet

FXStreet (Guatemala) - Valeria Bednarik noted that the Pound spent the first half of the day overnight in europe consolidating its latest gains against the greenback, having extended its rally by a few pips this Thursday, up to 1.5506.

"With no macroeconomic events in the UK, the pair had been showing little directional strength, until the release of US data, which sent the pair down to 1.5436."

"In the 4 hours chart, the technical indicators are retreating from overbought levels, but remain well above their mid-lines, whilst the price is way above its moving averages, limiting the strength on any possible bearish movement."
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