28 Nov 2014
GBP appears weak – FXStreet
FXStreet (Barcelona) - According to Omkar Godbole, FXStreet Editor and Analyst, the GBP pair appears weak as it extends its losses even today, but notes that the losses are restricted at the 1.57 levels.
Key Quotes
“The GBP/USD pair finished lower on Thursday at 1.5741 levels, after having struggled to sustain gains above 1.58 levels.”
“The pair is extending losses today, trading at 1.5716 at the time of writing. Moreover, the pair has dipped below the 5-DMA level located at 1.5733 as well as the support located at 1.5738 on the hourly chart.”
“The daily RSI, once again dipped after struggling near 47.00 levels, while the hourly RSI has flattened around 40.00 levels. Thus, the pair appears weak, although losses appear restricted at the 10-DMA level located at 1.57 levels.”
“Meanwhile, a fresh demand for Pounds can be anticipated if the pair rises back above 1.5738 levels. In such a case, the pair may re-test 1.58 levels. On the other hand, the short-term trend may turn bearish if the pair ends the day below 1.57 levels.”
Key Quotes
“The GBP/USD pair finished lower on Thursday at 1.5741 levels, after having struggled to sustain gains above 1.58 levels.”
“The pair is extending losses today, trading at 1.5716 at the time of writing. Moreover, the pair has dipped below the 5-DMA level located at 1.5733 as well as the support located at 1.5738 on the hourly chart.”
“The daily RSI, once again dipped after struggling near 47.00 levels, while the hourly RSI has flattened around 40.00 levels. Thus, the pair appears weak, although losses appear restricted at the 10-DMA level located at 1.57 levels.”
“Meanwhile, a fresh demand for Pounds can be anticipated if the pair rises back above 1.5738 levels. In such a case, the pair may re-test 1.58 levels. On the other hand, the short-term trend may turn bearish if the pair ends the day below 1.57 levels.”