6 Jul 2015
GBP/USD sees downside risks below 1.5527 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, sees downside potential for GBP/USD towards 1.5470 if the pair breaks below the daily low at 1.5527.
Key Quotes
“The GBP/USD pair gapped lower at the weekly opening, as the risk of a Grexit arose on the back of the victory of the "no" in the Greek referendum. Nevertheless, the slide remained limited, with the pair recovering from a fresh 3-week low of 1.5527, up to the 1.5600 region.”
“Renewed selling interest below the mentioned daily low, should lead to a downward extension down to the 1.5470 region, 61.8% retracement of the same rally.”
“To the upside, the price needs to recover above the 1.5610 level to shrug off the negative tone, and attempt a recovery up to the 1.5650 price zone.”
Key Quotes
“The GBP/USD pair gapped lower at the weekly opening, as the risk of a Grexit arose on the back of the victory of the "no" in the Greek referendum. Nevertheless, the slide remained limited, with the pair recovering from a fresh 3-week low of 1.5527, up to the 1.5600 region.”
“Renewed selling interest below the mentioned daily low, should lead to a downward extension down to the 1.5470 region, 61.8% retracement of the same rally.”
“To the upside, the price needs to recover above the 1.5610 level to shrug off the negative tone, and attempt a recovery up to the 1.5650 price zone.”