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21 Feb 2014
GBP/USD hovering around 1.6650 ahead of retail sales data
FXStreet (Córdoba) - The GBP/USD posted a moderate decline on Thursday extending the retracement from levels on top of 1.6800 and finished at 1.6650. Early in Asia remains steady hovering around 1.6650, waiting for retail sales data from the United Kingdom.
GBP/USD pointing lower?
The 4 hour indicators show a downward bias notes Jim Langlands, from FX Charts. “ The points to watch on the downside, below the 1.6624 session low (200 HMA) are at 1.6605 (38.2% of 1.6251/1.6821) and then at 1.6535 (50% pivot), which I don’t think we are heading for yet”.
To the upside, Langlands points to 1.6700 as the first resistance and above 1.6725 and 1.6740; above “further strength would take Cable back towards 1.6780 and possibly 1.6800, although I don’t see it happening”.
GBP/USD pointing lower?
The 4 hour indicators show a downward bias notes Jim Langlands, from FX Charts. “ The points to watch on the downside, below the 1.6624 session low (200 HMA) are at 1.6605 (38.2% of 1.6251/1.6821) and then at 1.6535 (50% pivot), which I don’t think we are heading for yet”.
To the upside, Langlands points to 1.6700 as the first resistance and above 1.6725 and 1.6740; above “further strength would take Cable back towards 1.6780 and possibly 1.6800, although I don’t see it happening”.