24 Mar 2015
GBP/USD might move higher towards 1.5000 levels if UK CPI rebounds – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, gives the outlook for GBP/USD into the UK CPI release.
Key Quotes
“On the charts, the pair has repeatedly struggled to sustain gains above the 38.2% Fib retracement (1.5550-1.4633) located at 1.4983. The 4-hour RSI and the hourly RSI remain in favor of a further upside in the pair.”
“An upbeat CPI could drive the pair higher to 1.5, however, further upside is contingent on the pair closing above 1.4983 on the 4-hour chart.”
“On the other hand, a weaker-than-expected CPI could push the pair below 1.49 (hourly 50-MA).”
Key Quotes
“On the charts, the pair has repeatedly struggled to sustain gains above the 38.2% Fib retracement (1.5550-1.4633) located at 1.4983. The 4-hour RSI and the hourly RSI remain in favor of a further upside in the pair.”
“An upbeat CPI could drive the pair higher to 1.5, however, further upside is contingent on the pair closing above 1.4983 on the 4-hour chart.”
“On the other hand, a weaker-than-expected CPI could push the pair below 1.49 (hourly 50-MA).”