29 Apr 2015
GBP/USD might see additional gains above 1.5362/50 – CharmerCharts
FXStreet (Barcelona) - Carol Harmer of CharmerCharts, expects GBP/USD to see gains towards 1.5416 if the pair breaks above 1.5362/50.
Key Quotes
“Cable bounded higher yesterday as expected....reaching 1.5343...our stochastics are drastically overbought, so they may well be a chance of the market coming lower initially. Our Daily pivot is located at 15299 and this is where we may pull back to.”
“This would ease the overbought conditions on the short term charts and allow us to move higher.”
“Now if we don't move lower and break 1.5362/50 then we have to stick with the trend and be long looking for 1.5416 or thereabouts... Cover all longs in this area.”
Key Quotes
“Cable bounded higher yesterday as expected....reaching 1.5343...our stochastics are drastically overbought, so they may well be a chance of the market coming lower initially. Our Daily pivot is located at 15299 and this is where we may pull back to.”
“This would ease the overbought conditions on the short term charts and allow us to move higher.”
“Now if we don't move lower and break 1.5362/50 then we have to stick with the trend and be long looking for 1.5416 or thereabouts... Cover all longs in this area.”