7 Jan 2015
GBP/USD: 1.5000 comes at sight – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, a downward acceleration below the daily lows can lead the GBP/USD pair to weaken towards 1.5060/70 levels, a break below which might lead to pair to extend losses to 1.5000.
Key Quotes
“Technically, the pair has extended even further below the 1.5200 level, whilst 20 SMA extended its decline, now offering dynamic resistance in the 1.5260 price zone.”
“Momentum has bounced strongly from oversold levels, but price not following through maintains the risk to the downside, whilst RSI remains around 21.”
“A downward acceleration below the daily low should lead to a continued slide towards 1.5060/70 price zone, whilst if this last gives up, the key 1.5000 figure comes next.”
“A recovery above 1.5150 on the other hand should favor an upward recovery up to the 1.5200 figure, where selling interest is expected to resume.”
Key Quotes
“Technically, the pair has extended even further below the 1.5200 level, whilst 20 SMA extended its decline, now offering dynamic resistance in the 1.5260 price zone.”
“Momentum has bounced strongly from oversold levels, but price not following through maintains the risk to the downside, whilst RSI remains around 21.”
“A downward acceleration below the daily low should lead to a continued slide towards 1.5060/70 price zone, whilst if this last gives up, the key 1.5000 figure comes next.”
“A recovery above 1.5150 on the other hand should favor an upward recovery up to the 1.5200 figure, where selling interest is expected to resume.”