29 Apr 2015
GBP/USD buyers still maintaining the stronghold – FXStreet
FXStreet (Barcelona) - A disappointing FOMC meeting will only boost the GBP/USD bulls, expecting a push above 1.5500 if the pair manages to break above 1.5410, according to Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
“Technically, the 4 hours chart shows that the 20 SMA presents a strong upward slope in the 1.5250 region, whilst the technical indicators are aiming lower in extreme overbought levels, far supporting the ongoing bearish corrective movement.”
“The pair has its immediate intraday support at 1.5320, with a break below it exposing the pair to an approach to the mentioned 1.5250 region. Nevertheless, this last level is expected to attract buying interest.”
“To the upside, a break above 1.5410 should lead to further gains, with scope to test the critical 1.5500 level later on in the day, if the FOMC fails to boost the greenback.”
Key Quotes
“Technically, the 4 hours chart shows that the 20 SMA presents a strong upward slope in the 1.5250 region, whilst the technical indicators are aiming lower in extreme overbought levels, far supporting the ongoing bearish corrective movement.”
“The pair has its immediate intraday support at 1.5320, with a break below it exposing the pair to an approach to the mentioned 1.5250 region. Nevertheless, this last level is expected to attract buying interest.”
“To the upside, a break above 1.5410 should lead to further gains, with scope to test the critical 1.5500 level later on in the day, if the FOMC fails to boost the greenback.”