17 Mar 2015
GBP/USD limited near-term bearish scope – 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 bounces from a daily low established at 1.4744, after failing to extend gains beyond the 1.4800 level earlier in the day. The British Pound is weak this Tuesday, despite there has been no relevant data coming from the UK so far this week.”
“The pair however, has a limited bearish scope in the short term, as the 1 hour chart shows that, despite the price stands below its 20 SMA, the technical indicators have turned north after approaching oversold levels.”
“In the 4 hours chart the price has been contained by a strongly bearish 20 SMA currently around the 1.4800 figure, whilst the technical indicators are also heading north in negative territory, with the Momentum indicator about to cross the 100 level.”
“Nevertheless, some follow through above 1.4820 is required to see the pair regaining the upside, something technical readings are not supporting right now.”
“Support levels: 1.4740 1.4700 1.4660”
“Resistance levels: 1.4790 1.4820 1.4860”
Key Quotes
“The GBP/USD pair bounces from a daily low established at 1.4744, after failing to extend gains beyond the 1.4800 level earlier in the day. The British Pound is weak this Tuesday, despite there has been no relevant data coming from the UK so far this week.”
“The pair however, has a limited bearish scope in the short term, as the 1 hour chart shows that, despite the price stands below its 20 SMA, the technical indicators have turned north after approaching oversold levels.”
“In the 4 hours chart the price has been contained by a strongly bearish 20 SMA currently around the 1.4800 figure, whilst the technical indicators are also heading north in negative territory, with the Momentum indicator about to cross the 100 level.”
“Nevertheless, some follow through above 1.4820 is required to see the pair regaining the upside, something technical readings are not supporting right now.”
“Support levels: 1.4740 1.4700 1.4660”
“Resistance levels: 1.4790 1.4820 1.4860”