3 Apr 2015
GBP/USD key levels into the US NFP release – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the outlook and key levels for GBP/USD into the US NFP release, expecting an upbeat data to send the pair lower towards 1.4660/90 while an upside break at 1.4860/70 might target 1.4950.
Key Quotes
“At this point, upcoming moves have all to do with the data and little with the technical picture, albeit the pair has been for the most bearish these days, which suggests the rally will be more interesting, should the dollar appreciate.”
“Anyway, an up beating reading could push the pair below its main support in the 1.4740/50 price zone, sending it towards fresh lows in the 1.4660/90 price zone.”
“To the upside, price needs to break above the mentioned 1.4860/70 level and trigger stops above it to accelerate north, pointing then to test 1.4950.”
“If the rally extend beyond this last, 1.5000 is the next bullish target, although strong selling interest is aligned around it, which means the price can retrace sharply from it if reached.”
Key Quotes
“At this point, upcoming moves have all to do with the data and little with the technical picture, albeit the pair has been for the most bearish these days, which suggests the rally will be more interesting, should the dollar appreciate.”
“Anyway, an up beating reading could push the pair below its main support in the 1.4740/50 price zone, sending it towards fresh lows in the 1.4660/90 price zone.”
“To the upside, price needs to break above the mentioned 1.4860/70 level and trigger stops above it to accelerate north, pointing then to test 1.4950.”
“If the rally extend beyond this last, 1.5000 is the next bullish target, although strong selling interest is aligned around it, which means the price can retrace sharply from it if reached.”