26 May 2015
GBP/USD: Bearish below Valeria Bednarik's signal - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the British Pound traded as low as 1.5456 against the greenback, with the pair unable to regain the 1.5500 level, despite an early short-lived rally up to 1.5506.
Key Quotes:
"Technically, the 1 hour cart shows that the price is a few pips below a horizontal 20 SMA, whilst the technical indicators are also flat, although the risk remains to the downside considering the RSI holds around 38. In the 4 hours chart, is clear that the price stalled a few pips above a critical static support, the 50% retracement of the 1.5088/1.5814 rally at 1.5440, from where the pair managed to regain the upside on a test earlier this month."
"In the same chart, the 20 SMA maintains its bearish slope around 1.5560, whilst the technical indicators are barely regaining the upside near oversold territory, far from suggesting an upcoming bullish correction."
"Should the price extend below the mentioned 1.5440 once the market it's in full-volume mode, the risk turns towards fresh lows below the 1.5400 figure, eyeing an approach to the 1.5360 region, the 61.8% retracement of the mentioned rally."
Key Quotes:
"Technically, the 1 hour cart shows that the price is a few pips below a horizontal 20 SMA, whilst the technical indicators are also flat, although the risk remains to the downside considering the RSI holds around 38. In the 4 hours chart, is clear that the price stalled a few pips above a critical static support, the 50% retracement of the 1.5088/1.5814 rally at 1.5440, from where the pair managed to regain the upside on a test earlier this month."
"In the same chart, the 20 SMA maintains its bearish slope around 1.5560, whilst the technical indicators are barely regaining the upside near oversold territory, far from suggesting an upcoming bullish correction."
"Should the price extend below the mentioned 1.5440 once the market it's in full-volume mode, the risk turns towards fresh lows below the 1.5400 figure, eyeing an approach to the 1.5360 region, the 61.8% retracement of the mentioned rally."