17 Mar 2015
GBP/USD fresh weakness ahead – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that GBP/USD technicals remain supportive of further weakness in the pair towards 1.47 levels.
Key Quotes
“On the 4-hour chart, the pair has repeatedly struggled to rise above 1.4830-1.4850 levels. Moreover, the pair failed to rise above 1.4830 (March 2013 low), which could push it back to 1.47 levels.”
“The hourly as well as the 4-hour RSI remains in favor of fresh weakness in the pair.”
“A break below the 5-DMA at 1.4806 could see a sharp selling pressure in the pair.”
“Meanwhile, the immediate upside in the pair appears capped around 1.4850 levels.”
Key Quotes
“On the 4-hour chart, the pair has repeatedly struggled to rise above 1.4830-1.4850 levels. Moreover, the pair failed to rise above 1.4830 (March 2013 low), which could push it back to 1.47 levels.”
“The hourly as well as the 4-hour RSI remains in favor of fresh weakness in the pair.”
“A break below the 5-DMA at 1.4806 could see a sharp selling pressure in the pair.”
“Meanwhile, the immediate upside in the pair appears capped around 1.4850 levels.”