25 Mar 2015
GBP/USD downside risk increasing – FXStreet
FXStreet (Barcelona) - With GBP/USD trading below the 1.4900 handle and technicals looking bearish, the pair might head lower towards 1.4790/1.4800 area on a break below 1.4830, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
“The technical picture for the GBP/USD pair is bearish, as the price is unable to overcome its 20 SMA, whilst the technical indicators are retracing from their midlines and gaining bearish strength.”
“Yesterday's low at 1.4830 is the immediate support to follow, as a break below it should lead to a downward continuation towards the 1.4790/1.4800 area.”
“Further declines may extend down to 1.4770, a strong static support level. If this last level gives up, risk will turn towards the downside for the rest of the day.”
“To the upside, a steady advance above 1.4900 should lead to a tepid advance towards 1.4920/30, while additional advances beyond this last should see a stronger upward momentum, targeting then 1.4970.”
Key Quotes
“The technical picture for the GBP/USD pair is bearish, as the price is unable to overcome its 20 SMA, whilst the technical indicators are retracing from their midlines and gaining bearish strength.”
“Yesterday's low at 1.4830 is the immediate support to follow, as a break below it should lead to a downward continuation towards the 1.4790/1.4800 area.”
“Further declines may extend down to 1.4770, a strong static support level. If this last level gives up, risk will turn towards the downside for the rest of the day.”
“To the upside, a steady advance above 1.4900 should lead to a tepid advance towards 1.4920/30, while additional advances beyond this last should see a stronger upward momentum, targeting then 1.4970.”