Daily Forex Technical Analysis - 15 Aug 2014 | Vantage FX

Technical Analysis – 15th August, 2014

August 15, 2014

Friday, 15th August, 2014


Intraday Support & Resistance Levels


Technical Indicator Signals


Currency Pair Spotlight

GBPUSD: After a continual month longer fall, the Sterling Dollar has reached 1.6656 yesterday – contrasting to when it was above 1.72 in the middle of July. Sterling was one of the best performing currencies in the first half as investors were speculating whether the UK would be the first Western major economy to raise interest rates. Now, as wage growth stagnates, the timing of the first rate rising may be once again be delayed by the BOE. Nevertheless, what we have to understand, though, is that the UK economic recovery is still relatively stronger than other major economies and the Sterling may not continues its fall in the mid-term. Yesterday, the pair left a hammer in the daily chart and RSI has been below 30. Traders be wary of the risk of the sterling’s bounce against Dollar.

For a full market wrap up, see Anthony’s Daily Forex Market Report.


Today’s Key Economic Calendar Events


For the full week’s outlook of events, please see our Economic Calendar


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