30 Jan 2015
GBP/USD smashed down in US session - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, explained that having been under pressure since the day started, Cable triggered stops below the 1.5100 level mid American afternoon.
Key Quotes:
"..falling down to 1.5016 before posting a mild bounce."
"Nevertheless, GBP/USD has largely resumed the downside after failing to advance beyond 1.5220, completing the short term double roof figure seen on previous update."
"The 1 hour chart shows that the price accelerated below a bearish 20 SMA that capped the upside most of this Thursdays, while indicators finally lost their bearish momentum and turned flat in oversold territory, far from suggesting a change in the trend."
"In the 4 hours chart price broke below its 20 SMA whilst indicators maintain a strong bearish momentum below their midlines, supporting some further declines particularly on a break below 1.5010 the immediate support."
Key Quotes:
"..falling down to 1.5016 before posting a mild bounce."
"Nevertheless, GBP/USD has largely resumed the downside after failing to advance beyond 1.5220, completing the short term double roof figure seen on previous update."
"The 1 hour chart shows that the price accelerated below a bearish 20 SMA that capped the upside most of this Thursdays, while indicators finally lost their bearish momentum and turned flat in oversold territory, far from suggesting a change in the trend."
"In the 4 hours chart price broke below its 20 SMA whilst indicators maintain a strong bearish momentum below their midlines, supporting some further declines particularly on a break below 1.5010 the immediate support."