24 Mar 2015
GBP/USD sees limited upside potential while below 1.5000 – FXStreet
FXStreet (Barcelona) - With GBP/USD falling to 1.4895 after the release of disappointing CPI data, Valeria Bednarik, Chief Analyst at FXStreet, comments that the pair requires a push above 1.5000 to gain upward strength.
Key Quotes
“The 4 hours chart shows that the price holds above a mild bullish 20 SMA, whilst the Momentum indicator aims higher in positive territory and the RSI stands directionless around 55.”
“The positive tone coming from technical readings is not enough as the pair has been finding short term selling interest around the 1.4970 price zone.”
“At this point, the pair needs to accelerate above the 1.5000 figure to gain upward strength, aiming for an advance up to 1.5050/60.”
“Below 1.4890, the pair may drop down to 1.4850, and beyond this last, towards the 1.4800 price zone.”
Key Quotes
“The 4 hours chart shows that the price holds above a mild bullish 20 SMA, whilst the Momentum indicator aims higher in positive territory and the RSI stands directionless around 55.”
“The positive tone coming from technical readings is not enough as the pair has been finding short term selling interest around the 1.4970 price zone.”
“At this point, the pair needs to accelerate above the 1.5000 figure to gain upward strength, aiming for an advance up to 1.5050/60.”
“Below 1.4890, the pair may drop down to 1.4850, and beyond this last, towards the 1.4800 price zone.”