5 Jun 2015
GBP/USD sees bearish potential below 1.5300 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, explains that GBP/USD might dip towards 1.5250/60 on a break below 1.5300 levels.
Key Quotes
“The 4 hours chart shows that the price is back below its moving averages, whilst the technical indicators head lower below their mid-lines, anticipating some additional declines.”
“A downward acceleration below 1.5300 should lead to a quick test of the 1.5250/60 price zone, whilst a break below this last exposes 1.5220, the next big support.”
“To the upside, an advance above 1.5340 should signal a test of the 1.5380/1.5400 region. Further gains are unlikely, as sellers are expected to surge on approaches to these levels.”
Key Quotes
“The 4 hours chart shows that the price is back below its moving averages, whilst the technical indicators head lower below their mid-lines, anticipating some additional declines.”
“A downward acceleration below 1.5300 should lead to a quick test of the 1.5250/60 price zone, whilst a break below this last exposes 1.5220, the next big support.”
“To the upside, an advance above 1.5340 should signal a test of the 1.5380/1.5400 region. Further gains are unlikely, as sellers are expected to surge on approaches to these levels.”