24 Mar 2015
GBP/USD break below 1.4850 to target 1.4770 – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, GBP/USD might extend its decline towards the support at 1.4770 if the pair breaks below the immediate support at 1.4850.
Key Quotes
“The pair has been trading quite rage bound ever since the day started, although the greenback seems ready to extend its advance in the short term, as the 1 hour chart shows that the price is unable to overcome its 20 SMA, whilst the technical indicators aim lower below their midlines.”
“In the 4 hours chart hover, the price is still holding above a flat 20 SMA, whilst the technical indicators turning lower, but still above their midlines.”
“A break through 1.4850 the immediate support, should lead to a stronger decline, which can extend down to the 1.4770 support.”
“Support levels: 1.4850 1.4810 1.4770”
“Resistance levels: 1.4925 1.4950 1.5000”
Key Quotes
“The pair has been trading quite rage bound ever since the day started, although the greenback seems ready to extend its advance in the short term, as the 1 hour chart shows that the price is unable to overcome its 20 SMA, whilst the technical indicators aim lower below their midlines.”
“In the 4 hours chart hover, the price is still holding above a flat 20 SMA, whilst the technical indicators turning lower, but still above their midlines.”
“A break through 1.4850 the immediate support, should lead to a stronger decline, which can extend down to the 1.4770 support.”
“Support levels: 1.4850 1.4810 1.4770”
“Resistance levels: 1.4925 1.4950 1.5000”