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23 Apr 2014
GBP outperforming - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that GBP has been flirting with its 4.5 year high, reached on April 17, 2014 of 1.6842.
Key Quotes
"There was no fundamental data released today and news flow has focused on equities and M&A deals. Tomorrow will see the release of the BoE minutes, which could provide important details around the BoE’s outlook."
"GBP/USD short‐term technicals: bullish a strong upward trend in spot is confirmed by most studies warning of further upside ahead. The MACD is lagging a bit and will need to reach a new high in the coming sessions to confirm that there is still momentum in GBP upside. Support lies at the April 16th low of 1.6720; while resistance is at the recent high of 1.6842, followed by 1.6900."
Key Quotes
"There was no fundamental data released today and news flow has focused on equities and M&A deals. Tomorrow will see the release of the BoE minutes, which could provide important details around the BoE’s outlook."
"GBP/USD short‐term technicals: bullish a strong upward trend in spot is confirmed by most studies warning of further upside ahead. The MACD is lagging a bit and will need to reach a new high in the coming sessions to confirm that there is still momentum in GBP upside. Support lies at the April 16th low of 1.6720; while resistance is at the recent high of 1.6842, followed by 1.6900."