28 Nov 2014
GBP/USD price battle around 1.5700 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the GBP/USD pair shows price battling around 1.5700 level, with the technical charts further pointing towards a decline.
Key Quotes
“The GBP/USD pair 4 hours chart shows price battling around 1.5700 and below its 20 SMA while indicators are ready to cross their midlines to the downside, presenting a clear bearish slope and supporting some further declines: a price acceleration below 1.5690 should lead to a test of the 1.5650 price zone, while if this last gives up, 1.5610 comes next.”
“To the upside, 1.5740 has become aging the resistance level to follow, with some follow through above it required to see the pair approaching 1.5800.”
Key Quotes
“The GBP/USD pair 4 hours chart shows price battling around 1.5700 and below its 20 SMA while indicators are ready to cross their midlines to the downside, presenting a clear bearish slope and supporting some further declines: a price acceleration below 1.5690 should lead to a test of the 1.5650 price zone, while if this last gives up, 1.5610 comes next.”
“To the upside, 1.5740 has become aging the resistance level to follow, with some follow through above it required to see the pair approaching 1.5800.”