6 Jan 2015
GBP/USD might see fresh selloff towards 1.52 levels – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, notes that the GBP/USD can see a fresh sell off towards 1.52 levels if the pair fails to break above 1.5270 levels.
Key Quotes
“The GBP/USD finished lower at 1.5253 levels on Monday, after having recovered from the low of 1.5177. A weak attempt to extend the recovery can be seen today as the pair struggles near 1.5265 levels, with the daily RSI bearish at 30.57 levels.”
“Despite the sharp fall witnessed in last few sessions, the daily RSI is yet to hit the oversold region. Hence, a fresh sell-off towards 1.52 levels can be anticipated, especially if the pair fails to take out the resistance at 1.5270 levels.”
“On the hourly chart, the pair has been struggling near 1.5270-1.5275 levels since the yesterday’s US session. Furthermore, the hourly RSI still hovers below 50.00 levels.”
“On the other hand, the GBP bulls would come-in once the pair breaks above 1.5321 levels.”
Key Quotes
“The GBP/USD finished lower at 1.5253 levels on Monday, after having recovered from the low of 1.5177. A weak attempt to extend the recovery can be seen today as the pair struggles near 1.5265 levels, with the daily RSI bearish at 30.57 levels.”
“Despite the sharp fall witnessed in last few sessions, the daily RSI is yet to hit the oversold region. Hence, a fresh sell-off towards 1.52 levels can be anticipated, especially if the pair fails to take out the resistance at 1.5270 levels.”
“On the hourly chart, the pair has been struggling near 1.5270-1.5275 levels since the yesterday’s US session. Furthermore, the hourly RSI still hovers below 50.00 levels.”
“On the other hand, the GBP bulls would come-in once the pair breaks above 1.5321 levels.”