7 Jan 2015
GBP/USD declines towards the key 1.5000 figure – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares that the GBP/USD pair continues to slide lower towards the key 1.5000 levels, with the technicals favouring the downside.
Key Quotes
“The GPB/USD breaks through the 1.5100 level, reaching fresh multi-month lows early US session, with no catalyst besides dollar broad strength.”
“From a technical perspective the pair is biased lower, as the 1 hour chart shows 20 SMA capped early attempts of recovery and heading lower, whilst indicators also turned south in negative territory.”
“In the 4 hours chart the downside is also favored despite RSI stands at 16, pointing for a steady decline towards the key 1.5000 figure.”
Key Quotes
“The GPB/USD breaks through the 1.5100 level, reaching fresh multi-month lows early US session, with no catalyst besides dollar broad strength.”
“From a technical perspective the pair is biased lower, as the 1 hour chart shows 20 SMA capped early attempts of recovery and heading lower, whilst indicators also turned south in negative territory.”
“In the 4 hours chart the downside is also favored despite RSI stands at 16, pointing for a steady decline towards the key 1.5000 figure.”