17 Mar 2015
GBP/USD might decline further below 1.4770 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, views that GBP/USD might remain range bound ahead of the Fed meet, but a break below 1.4770 would lead to the pair continuing lower towards 1.4730.
Key Quotes
“Technically, the 4 hours chart shows that the pair is biased lower, unable to overcome a bearish 20 SMA and with the technical indicators turning back south below their midlines, after correcting oversold readings.”
“The pair however, may remain range bound, as investors will turn extremely cautious ahead of FOMC Meeting also this Wednesday.”
“Nevertheless, a break below 1.4770 should lead to a downward continuation towards the 1.4730 price zone, followed by the 1.4700 level.”
“A steady recovery above 1.4820 on the other hand, may see the pair extending to the 1.4850/60 region, whilst additional gains above this last should see the price testing the 1.4900 level.”
Key Quotes
“Technically, the 4 hours chart shows that the pair is biased lower, unable to overcome a bearish 20 SMA and with the technical indicators turning back south below their midlines, after correcting oversold readings.”
“The pair however, may remain range bound, as investors will turn extremely cautious ahead of FOMC Meeting also this Wednesday.”
“Nevertheless, a break below 1.4770 should lead to a downward continuation towards the 1.4730 price zone, followed by the 1.4700 level.”
“A steady recovery above 1.4820 on the other hand, may see the pair extending to the 1.4850/60 region, whilst additional gains above this last should see the price testing the 1.4900 level.”