10 Mar 2015
GBP/USD capped at 1.5090 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives the technical outlook and key levels for GBP/USD, with the pair facing stiff resistance at the 1.5090 price zone, and held by a strong support at 1.5000.
Key Quotes
“The GBP/USD pair fell down to 1.5028, dragged lower by market sentiment rather than by self Pound weakness, with bounces limited by the 1.5090 price zone.”
“The 1 hour chart shows that the price is unable to advance above a mild bearish 20 SMA, whilst the indicators head higher below their midlines.”
“In the 4 hours chart, 20 SMA also capped the upside around the mentioned price zone, whilst the technical indicators are losing their upward strength in negative territory and after bouncing from oversold readings, with the RSI indicator turning lower around 40.”
“The bearish potential should increase only with a break below the critical 1.5000 figure, a strong static support level.”
“Support levels: 1.5050 1.5000 1.4950”
“Resistance levels: 1.5090 1.5125 1.5160”
Key Quotes
“The GBP/USD pair fell down to 1.5028, dragged lower by market sentiment rather than by self Pound weakness, with bounces limited by the 1.5090 price zone.”
“The 1 hour chart shows that the price is unable to advance above a mild bearish 20 SMA, whilst the indicators head higher below their midlines.”
“In the 4 hours chart, 20 SMA also capped the upside around the mentioned price zone, whilst the technical indicators are losing their upward strength in negative territory and after bouncing from oversold readings, with the RSI indicator turning lower around 40.”
“The bearish potential should increase only with a break below the critical 1.5000 figure, a strong static support level.”
“Support levels: 1.5050 1.5000 1.4950”
“Resistance levels: 1.5090 1.5125 1.5160”