7 Apr 2015
GBP/USD sees limited downside risk – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, GBP/USD sees limited downside risks, and might resume its upside towards 1.4920/40 on a break above 1.4890 levels.
Key Quotes
“Technically, the 4 hours chart shows that the price is having trouble to recover above its 20 SMA, whilst the technical indicators have turned lower around their mid-lines, with the Momentum indicator still above the 100 level, keeping the risk towards the downside, but not yet confirming a downward continuation.”
“If the short term recovery extends above 1.4890, the pair can resume the upside, and advance up to the 1.4920/40 price zone, although sellers will likely cap the pair around that area.”
“To the downside, renewed selling interest below 1.4830, the daily low, should lead to a downward continuation down towards the 1.4770 price zone.”
Key Quotes
“Technically, the 4 hours chart shows that the price is having trouble to recover above its 20 SMA, whilst the technical indicators have turned lower around their mid-lines, with the Momentum indicator still above the 100 level, keeping the risk towards the downside, but not yet confirming a downward continuation.”
“If the short term recovery extends above 1.4890, the pair can resume the upside, and advance up to the 1.4920/40 price zone, although sellers will likely cap the pair around that area.”
“To the downside, renewed selling interest below 1.4830, the daily low, should lead to a downward continuation down towards the 1.4770 price zone.”