12 Feb 2015
GBP/USD waiting for the BOE – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the technical outlook for GBP/USD, with indicators currently directionless, awaiting the BOE’s inflation report.
Key Quotes
“The GBP/USD pair has managed to recover from a daily low of 1.5215 reached early in the Asian session, trading flat in the day ahead of key BOE's Quarterly Inflation Report to be release in a couple of hours alongside with the Inflation Letter..”
“Afterwards, Governor Mark Carney will have to confront reporters in a press round, which guarantees some action in Pound crosses.”
“Indicators in the 4 hours chart stand directionless in neutral territory ahead of Carney, with the price limited to the downside by the 1.5210 price zone, the 38.2% retracement of its latest daily run, and by 1.5265 to the upside, 23.6% retracement of the same rally.”
“A price acceleration through one of those levels is required to see a more directional move of around 40 pips in the short term.”
Key Quotes
“The GBP/USD pair has managed to recover from a daily low of 1.5215 reached early in the Asian session, trading flat in the day ahead of key BOE's Quarterly Inflation Report to be release in a couple of hours alongside with the Inflation Letter..”
“Afterwards, Governor Mark Carney will have to confront reporters in a press round, which guarantees some action in Pound crosses.”
“Indicators in the 4 hours chart stand directionless in neutral territory ahead of Carney, with the price limited to the downside by the 1.5210 price zone, the 38.2% retracement of its latest daily run, and by 1.5265 to the upside, 23.6% retracement of the same rally.”
“A price acceleration through one of those levels is required to see a more directional move of around 40 pips in the short term.”