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1 Apr 2015
GBP/USD bearish tone prevails – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that GBP/USD requires a break below 1.4750 to confirm further intraday declines.
Key Quotes
“Technically, the 1 hour chart shows that the price erased half of its intraday losses, still well below its 20 SMA around 1.4830, whilst indicators recover from oversold levels but remain in negative territory.”
“In the 4 hours chart the bearish tone prevails with the price developing below its 20 SMA and the technical indicators below their mid-lines.”
“Renewed selling interest below the 1.4750 however, is required to confirm further intraday declines, particularly if the price remains capped below the mentioned 1.4830 price zone.”
“Support levels: 1.4750 1.4710 1.4660”
“Resistance levels: 1.4830 1.4990 1.4900”
Key Quotes
“Technically, the 1 hour chart shows that the price erased half of its intraday losses, still well below its 20 SMA around 1.4830, whilst indicators recover from oversold levels but remain in negative territory.”
“In the 4 hours chart the bearish tone prevails with the price developing below its 20 SMA and the technical indicators below their mid-lines.”
“Renewed selling interest below the 1.4750 however, is required to confirm further intraday declines, particularly if the price remains capped below the mentioned 1.4830 price zone.”
“Support levels: 1.4750 1.4710 1.4660”
“Resistance levels: 1.4830 1.4990 1.4900”