11 Jun 2015
GBP/USD sees additional gains above 1.5490 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives the technical outlook and key levels for GBP/USD.
Key Quotes
“The GBP/USD pair is posting a tepid bounce from a fresh daily low posted at 1.5420 following the release of US data, maintaining however, a short term bearish tone, as the 1 hour chart shows that the price develops below a strongly bearish 20 SMA, whilst the technical indicators are holding directionless below their mid-lines.”
“In the 4 hours chart the 20 SMA heads sharply higher below the current price, in the 1.5380 region, whilst the technical indicators have retraced from overbought levels, but are now regaining the upside above their mid-lines.”
“The downside seems now limited, although the pair needs to advance beyond 1.5490 to be able to extend its gains during the upcoming hours.”
“Support levels: 1.5420 1.5380 1.5340“
“Resistance levels: 1.5490 1.5530 1.5560”
Key Quotes
“The GBP/USD pair is posting a tepid bounce from a fresh daily low posted at 1.5420 following the release of US data, maintaining however, a short term bearish tone, as the 1 hour chart shows that the price develops below a strongly bearish 20 SMA, whilst the technical indicators are holding directionless below their mid-lines.”
“In the 4 hours chart the 20 SMA heads sharply higher below the current price, in the 1.5380 region, whilst the technical indicators have retraced from overbought levels, but are now regaining the upside above their mid-lines.”
“The downside seems now limited, although the pair needs to advance beyond 1.5490 to be able to extend its gains during the upcoming hours.”
“Support levels: 1.5420 1.5380 1.5340“
“Resistance levels: 1.5490 1.5530 1.5560”