The sharp rally that led GBP/USD toward a 3−week high at 1.6192 on the back of Moody's placing the US rating on revision for downgrade late Wednesday, eased along the European session and the pair entered in a consolidation range that has held during American hours.
GBP/USD retreated from highs but the correction was limited by the 1.6090 zone, and the cross has spent most of the NY session above that level but capped by 1.6160. At time of writing, the pair is quoting at 1.6135, 0.22% above its opening price.
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet, recently commented, "Holding steady above 1.6080 area, the pair has a shy bearish momentum in the hourly chart while price hovers around a flat 20 SMA and contradicts indicators, as the pair moves on market sentiment rather than anything else. 4 hours chart, shows current candle managed to open firm above 200 EMA, helping keep the downside limited".
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet, recently commented, "Holding steady above 1.6080 area, the pair has a shy bearish momentum in the hourly chart while price hovers around a flat 20 SMA and contradicts indicators, as the pair moves on market sentiment rather than anything else. 4 hours chart, shows current candle managed to open firm above 200 EMA, helping keep the downside limited".
No comments:
Post a Comment