25 Mar 2015
GBP/USD sell-off to intensify below 1.4849 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, sees GBP/USD targeting 1.4800 levels, anticipating bears to push the pair lower on a break below 1.4849.
Key Quotes
“On the charts, the pair is currently trading few pips above the 23.6% Fib retracement (1.5550-1.4633) located at 1.4849.”
“The hourly chart shows, the pair bounced back from the 200-MA located at 1.4831, although gains are being capped around the 100-MA located 1.4869.”
“Given the daily close below 1.4850 on Tuesday, and the bearish daily and hourly RSI, the pair is likely to be sold on rallies till 1.49.”
“The sell-off would be intense once the pair breaks below 1.4849 levels. In such a case, the pair could drop to 1.48 – 1.4758 levels.”
Key Quotes
“On the charts, the pair is currently trading few pips above the 23.6% Fib retracement (1.5550-1.4633) located at 1.4849.”
“The hourly chart shows, the pair bounced back from the 200-MA located at 1.4831, although gains are being capped around the 100-MA located 1.4869.”
“Given the daily close below 1.4850 on Tuesday, and the bearish daily and hourly RSI, the pair is likely to be sold on rallies till 1.49.”
“The sell-off would be intense once the pair breaks below 1.4849 levels. In such a case, the pair could drop to 1.48 – 1.4758 levels.”