7 Apr 2015
GBP/USD bearish below 1.4830 – FXStreet
FXStreet (Barcelona) - With GBP/USD struggling to break above 1.4900, Valeria Bednarik, Chief Analyst at FXStreet, views that the pair might gather further downside potential on a break below the support at 1.4830.
Key Quotes
“The British Pound could no remain immune to dollar's strength, and the GBP/USD fell down to 1.4828, although it managed to recover ground on strong UK services output data.”
“Nevertheless, the pair is trading below the 1.4900 level, and the hourly chart shows that the price can't establish above a bearish 20 SMA, while the technical indicators turned south around their mid-lines, limiting chances of additional advances.”
“In the 4 hours chart the technical picture is neutral, as the price hovers above a flat 20 SMA, whilst the technical indicators are turning horizontal slightly above their mid-lines.”
“Only below 1.4830 the pair will confirm the downward potential, eyeing then a quick slide towards the 1.4770 price zone.”
“Support levels: 1.4830 1.4770 1.4730”
“Resistance levels: 1.4920 1.4950 1.5000”
Key Quotes
“The British Pound could no remain immune to dollar's strength, and the GBP/USD fell down to 1.4828, although it managed to recover ground on strong UK services output data.”
“Nevertheless, the pair is trading below the 1.4900 level, and the hourly chart shows that the price can't establish above a bearish 20 SMA, while the technical indicators turned south around their mid-lines, limiting chances of additional advances.”
“In the 4 hours chart the technical picture is neutral, as the price hovers above a flat 20 SMA, whilst the technical indicators are turning horizontal slightly above their mid-lines.”
“Only below 1.4830 the pair will confirm the downward potential, eyeing then a quick slide towards the 1.4770 price zone.”
“Support levels: 1.4830 1.4770 1.4730”
“Resistance levels: 1.4920 1.4950 1.5000”