12 May 2015
GBP/USD remains near-term corrective – Kshitij
FXStreet (Barcelona) - Analysts at Kshitij Consultancy, give the technical outlook for GBP/USD and EUR/GBP, expecting the former to see a correction lower towards 1.54-1.53 area.
Key Quotes
“Pound (1.5579) has been rising higher with strong momentum but is testing crucial resistance near 1.5595-1.56 on the upside. Yesterday it saw a sharp rise from 1.5394 to close the session at 1.5577 as expected. Near term may see some short correction towards 1.54-1.53 while below 1.56.”
“EURGBP (0.7164) fell further yesterday from levels of 0.7257 to 0.7154. But note that it is currently testing near term trend support and may see some rise in the near term.”
Key Quotes
“Pound (1.5579) has been rising higher with strong momentum but is testing crucial resistance near 1.5595-1.56 on the upside. Yesterday it saw a sharp rise from 1.5394 to close the session at 1.5577 as expected. Near term may see some short correction towards 1.54-1.53 while below 1.56.”
“EURGBP (0.7164) fell further yesterday from levels of 0.7257 to 0.7154. But note that it is currently testing near term trend support and may see some rise in the near term.”