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30 Jun 2014
GBP/USD grinding higher in early US session - FXStreet
FXStreet Chief Analyst Valeria Bednarik observes that the GBP/USD continued climbing at the beginning of the US session on Monday, above the roof of the short term symmetrical triangle that contained price over the last few days.
Key quotes
"Nevertheless, the pair is capped below this year high of 1.7060 immediate resistance, with the hourly chart showing a strong upward momentum coming from technical readings both in 1 and 4 hours charts."
"Further upward momentum should see price approaching the 1.7100 figure, opening doors for a test of 1.7250 strong midterm resistance zone."
Key quotes
"Nevertheless, the pair is capped below this year high of 1.7060 immediate resistance, with the hourly chart showing a strong upward momentum coming from technical readings both in 1 and 4 hours charts."
"Further upward momentum should see price approaching the 1.7100 figure, opening doors for a test of 1.7250 strong midterm resistance zone."