Back
4 May 2015
GBP/USD offered below 1.5166 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, notes GBP/USD might see fresh offers below 1.5166 and a break below 1.5113 might pave way for further declines.
Key Quotes
“At the moment, the pair is trading at 1.5150, after having bounced-off from the 38.2% Fib support of 1.4564-1.5490 located at 1.5136. The sharp sell-off on Friday pushed the intraday RSI indicator to oversold region, thus helping the pair recover slightly to 1.5163 from the low of 1.5113.”
“Fresh offers could be seen so long as the pair trades below its hourly 200-MA located at 1.5166.”
“A break below 1.5113 could exposes 1.5087 (50-DMA) and 1.5027 (50% Fib retracement of 1.4564-1.5490).”
“On the upside, area around 1.5120 (+20pips/-20pips) is likely to act as a strong resistance. Rejection at the same could trigger a fresh sell-off to 1.5027 levels.”
Key Quotes
“At the moment, the pair is trading at 1.5150, after having bounced-off from the 38.2% Fib support of 1.4564-1.5490 located at 1.5136. The sharp sell-off on Friday pushed the intraday RSI indicator to oversold region, thus helping the pair recover slightly to 1.5163 from the low of 1.5113.”
“Fresh offers could be seen so long as the pair trades below its hourly 200-MA located at 1.5166.”
“A break below 1.5113 could exposes 1.5087 (50-DMA) and 1.5027 (50% Fib retracement of 1.4564-1.5490).”
“On the upside, area around 1.5120 (+20pips/-20pips) is likely to act as a strong resistance. Rejection at the same could trigger a fresh sell-off to 1.5027 levels.”