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1 Jul 2014
GBP/USD: Further gains towards 1.7250 expected - FXStreet
FXStreet (Bali) - The GBP/USD trades at new year highs with further gains towards 1.7250 to be expected, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"Despite extremely overbought, the hourly chart shows no signs a downward correction coming in the short term and indeed a daily close at this level anticipates a continued advance in the pair."
"In the 4 hours chart indicators maintain a strong upward momentum, supporting the shorter term view: pullbacks down to 1.7060 should now attract buyers, while further gains are to be expected, eyeing 1.7250 strong static resistance level."
Key Quotes
"Despite extremely overbought, the hourly chart shows no signs a downward correction coming in the short term and indeed a daily close at this level anticipates a continued advance in the pair."
"In the 4 hours chart indicators maintain a strong upward momentum, supporting the shorter term view: pullbacks down to 1.7060 should now attract buyers, while further gains are to be expected, eyeing 1.7250 strong static resistance level."