19 Jun 2015
GBP/USD: Inverted H&S target at 1.72 – Varengold Bank
FXStreet (Barcelona) - The Varengold Bank Research Team offers their technical outlook and key levels for GBP/USD using daily charts.
Key Quotes
“Technically, the GBPUSD continues bouncing from its lows reached a couple of months ago, when the pair finally was able to change a ten months downtrend to bullish. At the moment the price is placed at 50% of the Fibonacci retracement and with the 20 and 200 moving averages already crossed each other (bullish signal). Besides, the chart shows an inverted Head & Shoulders, with target at the beginning of the bearish movement (around 1.72).”
“Support Levels around 1.5811, 1.5166, 1.4545”
“Resistance Levels around 1.6180, 1.6522”
Key Quotes
“Technically, the GBPUSD continues bouncing from its lows reached a couple of months ago, when the pair finally was able to change a ten months downtrend to bullish. At the moment the price is placed at 50% of the Fibonacci retracement and with the 20 and 200 moving averages already crossed each other (bullish signal). Besides, the chart shows an inverted Head & Shoulders, with target at the beginning of the bearish movement (around 1.72).”
“Support Levels around 1.5811, 1.5166, 1.4545”
“Resistance Levels around 1.6180, 1.6522”