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27 Feb 2015
Greenback takes sterling for a ride - FXStreet
FXStreet (Guatemala) - Ani Salama, analyst at FXStreet, explained that the GBP/USD pair suffered on the back of a stronger dollar.
Key Quotes:
"...Surrendering most of its weekly gains. GBP/USD pulled back sharply from an 8-week high of 1.5551 high scored during the European session and briefly dropped below the 1.5400 level."
"Daily charts hold the bullish tone despite today’s setback, although indicators have lost strength."
"In the 4-hour chart, both the Momentum indicator and the RSI have crossed their midlines to the downside turning short-term focus to the downside."
"A decisive break below 1.5400 could send the pair to 1.5330/10, which is next support area. On the flip side, Cable needs climb back above 1.5475 to regain short-term bullish strength."
Key Quotes:
"...Surrendering most of its weekly gains. GBP/USD pulled back sharply from an 8-week high of 1.5551 high scored during the European session and briefly dropped below the 1.5400 level."
"Daily charts hold the bullish tone despite today’s setback, although indicators have lost strength."
"In the 4-hour chart, both the Momentum indicator and the RSI have crossed their midlines to the downside turning short-term focus to the downside."
"A decisive break below 1.5400 could send the pair to 1.5330/10, which is next support area. On the flip side, Cable needs climb back above 1.5475 to regain short-term bullish strength."