16 Jan 2015
GBP/USD might continue higher towards 1.5320 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes than GBP/USD has slowly regained its upside post the SNB decision and might move higher towards 1.5320 on a break above 1.5270 levels.
Key Quotes
“The GBP/USD pair has survived Thursday’s wild market around the 1.5200 level, and slowly regains the upside as investors already digested SNB’s decision.“
“From a technical point of view, the 4 hours chart shows that the price advances firmly above its 20 SMA, whilst indicators bounced from their midlines, aiming higher in positive territory. Furthermore, there is a short term ascendant trend line coming from this month low at 1.5033, today acting as key support around 1.5120.”
“To the upside, the pair stalled around 1.5270 this week, which means a break above it should lead to a continuation rally up to 1.5320, next static resistance level.”
“Below 1.5190 on the other hand, the pair may give up some ground, with supports then at 1.5150 and the mentioned 1.5120 level.”
Key Quotes
“The GBP/USD pair has survived Thursday’s wild market around the 1.5200 level, and slowly regains the upside as investors already digested SNB’s decision.“
“From a technical point of view, the 4 hours chart shows that the price advances firmly above its 20 SMA, whilst indicators bounced from their midlines, aiming higher in positive territory. Furthermore, there is a short term ascendant trend line coming from this month low at 1.5033, today acting as key support around 1.5120.”
“To the upside, the pair stalled around 1.5270 this week, which means a break above it should lead to a continuation rally up to 1.5320, next static resistance level.”
“Below 1.5190 on the other hand, the pair may give up some ground, with supports then at 1.5150 and the mentioned 1.5120 level.”