8 Apr 2015
GBP/USD: short-term upside potential - FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, GBP/USD maintains a short-term upward tone and might test 1.5000 levels, a break above which might target 1.5060.
Key Quotes
“The British Pound advanced against the greenback to a new weekly high in the 1.4950 region, maintaining a strong upward tone in the short term, as the price continues to extend well above its moving averages, whilst the technical indicators maintain strong bullish slopes well into overbought territory.”
“In the 4 hours chart, the technical outlook is also positive with the pair approaching its 200 EMA around the critical 1.5000 figure, where selling interest has limited the upside for most of the last 3 weeks.”
“Should the price break above it, the upward potential will increase, with the next possible bullish target at 1.5060.”
“Support levels: 1.4950 1.4910 1.4880”
“Resistance levels: 1.5000 1.5060 1.5100”
Key Quotes
“The British Pound advanced against the greenback to a new weekly high in the 1.4950 region, maintaining a strong upward tone in the short term, as the price continues to extend well above its moving averages, whilst the technical indicators maintain strong bullish slopes well into overbought territory.”
“In the 4 hours chart, the technical outlook is also positive with the pair approaching its 200 EMA around the critical 1.5000 figure, where selling interest has limited the upside for most of the last 3 weeks.”
“Should the price break above it, the upward potential will increase, with the next possible bullish target at 1.5060.”
“Support levels: 1.4950 1.4910 1.4880”
“Resistance levels: 1.5000 1.5060 1.5100”