8 Apr 2015
GBP/USD might breach 1.4800 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, sees potential for GBP/USD to break below 1.4820-1.4800 and move towards 1.4749.
Key Quotes
“On the daily charts, we see the pair bounced-off from 1.4820 (61.8% Fib retracement of 1.4633-1.5122) to trade at 1.4842.”
“Another major resistance is immediately seen at 1.4849 (23.6% Fib retracement of 1.5550-1.4633), followed by 10-DMA at 1.4856.”
“The recovery could be extended to 1.4856-1.4870, although fresh selling pressures should emerge in the said range.”
“A break below 1.4820-1.48 could be seen in the European session as the USD may catch a fresh bid wave. In such a case, the pair could drop to 1.4749 (76.45 Fib retracement of 1.4633-1.5122).”
“Meanwhile, the GBP bulls are unlikely to have a say so long as it trades below the 10-DMA located at 1.4878.”
Key Quotes
“On the daily charts, we see the pair bounced-off from 1.4820 (61.8% Fib retracement of 1.4633-1.5122) to trade at 1.4842.”
“Another major resistance is immediately seen at 1.4849 (23.6% Fib retracement of 1.5550-1.4633), followed by 10-DMA at 1.4856.”
“The recovery could be extended to 1.4856-1.4870, although fresh selling pressures should emerge in the said range.”
“A break below 1.4820-1.48 could be seen in the European session as the USD may catch a fresh bid wave. In such a case, the pair could drop to 1.4749 (76.45 Fib retracement of 1.4633-1.5122).”
“Meanwhile, the GBP bulls are unlikely to have a say so long as it trades below the 10-DMA located at 1.4878.”