30 Apr 2015
GBP/USD technicals favouring the upside – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the technical outlook and key levels for GBP/USD.
Key Quotes
“Anyway, the technical picture continues to favor the upside, as the 4 hours chart shows price firmly above the 1.5400 figure, whilst the 20 SMA heads strongly north below the current price, and the technical indicators resumed their advance after a limited downward correction in extreme overbought levels.”
“The 1.5500 figure is now critical, as a break above it may trigger stops and fuel the advance, eyeing then the 1.5540/60 region.”
“A decline beyond 1.5400 on the other hand, may see the pair extending it downward corrective movement towards 1.5345, the next strong static support level.”
Key Quotes
“Anyway, the technical picture continues to favor the upside, as the 4 hours chart shows price firmly above the 1.5400 figure, whilst the 20 SMA heads strongly north below the current price, and the technical indicators resumed their advance after a limited downward correction in extreme overbought levels.”
“The 1.5500 figure is now critical, as a break above it may trigger stops and fuel the advance, eyeing then the 1.5540/60 region.”
“A decline beyond 1.5400 on the other hand, may see the pair extending it downward corrective movement towards 1.5345, the next strong static support level.”