19 Feb 2015
GBP/USD favouring 1.5500 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest that a break above 1.5460 might lead GBP/USD to advance further towards 1.5500 and even 1.5540 levels.
Key Quotes
“The GBP/USD extends its consolidative phase near the high set on Wednesday at 1.5479.”
“The technical picture shows that the pair has lost short term upward strength, but there are no signs it may retrace: the 4 hours chart shows that indicators hold in positive territory while the price stands well above a bullish 20 SMA.”
“Buyers have been surging in the 1.5410/20 price zone, so a break below it may see the a downward correction towards the mentioned 20 SMA around 1.5380. A fall beyond this last, will jeopardize the ongoing positive tone.”
“A renewed advance above 1.5460 on the other hand, should favor an extension up to the 1.5500 figure, whilst above this last, the pair can extend up to 1.5540 during the upcoming hours”
Key Quotes
“The GBP/USD extends its consolidative phase near the high set on Wednesday at 1.5479.”
“The technical picture shows that the pair has lost short term upward strength, but there are no signs it may retrace: the 4 hours chart shows that indicators hold in positive territory while the price stands well above a bullish 20 SMA.”
“Buyers have been surging in the 1.5410/20 price zone, so a break below it may see the a downward correction towards the mentioned 20 SMA around 1.5380. A fall beyond this last, will jeopardize the ongoing positive tone.”
“A renewed advance above 1.5460 on the other hand, should favor an extension up to the 1.5500 figure, whilst above this last, the pair can extend up to 1.5540 during the upcoming hours”