9 Apr 2015
GBP/USD sees scope for higher levels above 1.4900 – Charmer Charts
FXStreet (Barcelona) - Carol Harmer of Charmer Charts, notes GBP/USD needs a clear break above 1.4900 to gain further upside potential towards 1.4990, but failing to do so might expose 1.4800.
Key Quotes
“Now we are back lower but currently above 1.4835/30 and oversold on the short term charts, so there is another chance we trade higher early in the session.”
“We obviously need to clear 1.489...well 1.49 really, and if we can do that there is scope for the market to rise and come again towards 1.4990....We cover all longs prior this resistance.”
“Attempt small shorts, holding unless we break above 1.5010.”
“Now if we cannot break 1.49 the pressure will return to the downside with 1.4800 once more the targeted area. Cover shorts to here.”
“Re-sell a break below 1.4780 as a loss of this support keeps the immediate bias to the downside, leaving the way clear for further weakness down to 1.4715 and possibly 1.4645/35 overall.”
Key Quotes
“Now we are back lower but currently above 1.4835/30 and oversold on the short term charts, so there is another chance we trade higher early in the session.”
“We obviously need to clear 1.489...well 1.49 really, and if we can do that there is scope for the market to rise and come again towards 1.4990....We cover all longs prior this resistance.”
“Attempt small shorts, holding unless we break above 1.5010.”
“Now if we cannot break 1.49 the pressure will return to the downside with 1.4800 once more the targeted area. Cover shorts to here.”
“Re-sell a break below 1.4780 as a loss of this support keeps the immediate bias to the downside, leaving the way clear for further weakness down to 1.4715 and possibly 1.4645/35 overall.”