6 Apr 2015
GBP/USD might see further gains above 1.4950 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest GBP/USD exhibits a mild positive tone, expecting a break above 1.4950 to lead to further gains towards 1.5000 level.
Key Quotes
“Technically, the GBP/USD pair in its 4 hours chart, maintains a mild positive tone, with the technical indicators directionless well into positive territory, and the price above its 20 SMA, this last still lacking directional strength.”
“In the same chart, the 200 EMA offers a strong dynamic resistance around the 1.5000 critical figure, level that has been containing the upside ever since the latest FOMC meeting.”
“The immediate short term resistance stands at 1.4950, with a break above signaling a short term spike up to the 1.5000 mentioned level, albeit strong selling interest is aligned around it, probably limiting the upside for the day.”
“Some short term buying interest has been appearing around the 1.4900 figure, albeit a strong support comes some pips below it, at 1.4870. Only below this last the pair will be exposed to additional declines, towards the 1.4820/30 price zone.”
Key Quotes
“Technically, the GBP/USD pair in its 4 hours chart, maintains a mild positive tone, with the technical indicators directionless well into positive territory, and the price above its 20 SMA, this last still lacking directional strength.”
“In the same chart, the 200 EMA offers a strong dynamic resistance around the 1.5000 critical figure, level that has been containing the upside ever since the latest FOMC meeting.”
“The immediate short term resistance stands at 1.4950, with a break above signaling a short term spike up to the 1.5000 mentioned level, albeit strong selling interest is aligned around it, probably limiting the upside for the day.”
“Some short term buying interest has been appearing around the 1.4900 figure, albeit a strong support comes some pips below it, at 1.4870. Only below this last the pair will be exposed to additional declines, towards the 1.4820/30 price zone.”