FXStreet: GBP / USD on October 19, the European market technical analysis

Updated: October 19, 2015  Views: 29

FX168 hearing on Monday (October 19) the European session trading, sterling / dollar traded near 1.5480. Dollar intraday highest touched 1.5496, the lowest downlink test 1.5425.FXStreet days Valeria Bednarik, chief analyst pointed out that the pound / dollar short-term action on energy intact.

Valeria Bednarik said sterling / dollar slightly higher, but still within the range between the most recent trading range, hovering around 1.5460, slightly higher than the recent 61.8% retracement of the decline since last Wednesday but the employment subdued wage growth better than expected mixed bag of employment and salary report, the United Kingdom, there is no published data, the pound / dollar after the jobs report pushed wages up to the top of the level, to the Thursday before the release of UK retail sales still no published data, which means the pound is likely to remain its continuing strength.

Technically, the GBP / USD 4-hour chart shows a strong rise in the price hovering in the 20 moving average, but the technical indicators located on the midline of the lack of clear direction, showing a neutral position, because the exchange rate has been caught in the last three days 100 points fluctuation range within the range. If the dollar break through the 1.5485 level will accelerate the widening bounce space, look to the next target 1.5520, then 1.5560 level.

On the other hand, if below 1.5410 level, the possibility of further retracement to the 50% retracement of the 1.5382 level, which is expected to attract buying re-admission level.

(GBP / USD 4-hour chart, source: FXStreet, FX168 Financial Network

21:06 GMT, the pound / dollar reported 1.5480 / 83.

Proofreading: calm


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