GBP: Technical indicators are mixed - BBH

Sandeep Kanihama FXStreet Contributor

Analysts at BBH explain that unlike the euro, yen and Swiss franc, sterling failed to make a new high last week as sterling's high was set on January 25 a little below $1.4350.

Key Quotes

“It has made two lower highs since. Before the weekend, it briefly traded above the 61.8% retracement (~$1.4125) from last month's peak before the weaker than expected retail sales sent it back to$1.40, where it just missed pushing through the previous day's low. A break of $1.3975 could signal a likely return to $1.3765-$1.3800. The technical indicators are mixed, with the RSI and MACDs still trending lower, while the Slow Stochastic crossing higher.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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