28 Apr 2015
GBP/USD: 1.5250/55 key to direction – DayTradeIdeas
FXStreet (Barcelona) - Jason Sen of DayTradeIdeas, shares the outlook and key upside and downside levels for GBP/USD.
Key Quotes
“GBPUSD severely overbought short term & on the daily chart with 1.5250/55 the key to direction. Profit taking looks overdue now & we could dip to key support at 1.5175/1.5165."
“Longs need a stop below 1.5150 as a break lower risks a slide to 1.5130 for profit taking on shorts, and perhaps as far as 1.5105. A good chance of a low for the day here and worth trying longs with a stop below 1.5080.”
“With only one losing day in the last 11 sessions the bulls clearly have got good control at the moment so we must be ready to go with a break above yesterday's high at 1.5261 to target 1.5295/00 and perhaps far as 1.5315.”
“If we continue higher look for 1.5340. Just be aware that any further gains this week run into quite strong resistance at 1.5370/75.”
Key Quotes
“GBPUSD severely overbought short term & on the daily chart with 1.5250/55 the key to direction. Profit taking looks overdue now & we could dip to key support at 1.5175/1.5165."
“Longs need a stop below 1.5150 as a break lower risks a slide to 1.5130 for profit taking on shorts, and perhaps as far as 1.5105. A good chance of a low for the day here and worth trying longs with a stop below 1.5080.”
“With only one losing day in the last 11 sessions the bulls clearly have got good control at the moment so we must be ready to go with a break above yesterday's high at 1.5261 to target 1.5295/00 and perhaps far as 1.5315.”
“If we continue higher look for 1.5340. Just be aware that any further gains this week run into quite strong resistance at 1.5370/75.”