19 Jan 2015
GBP/USD likely to test 1.52 levels – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, sees the probability of an upmove as high for GBP/USD as the pair has sustained above 1.5131 levels, further anticipating the pair to test 1.5178 and 1.52 levels if it breaks above 1.5152.
Key Quotes
“The GBP/USD pair weakened on Friday at 1.5158 levels, after having recovered from the low of 1.5074 levels. The losses have been extended today as the pair trades low at 1.5134 levels, with the daily RSI bearish at 33.16 levels.”
“Meanwhile, on the hourly chart, the pair trades above the rising trend line support located at 1.5131 levels, with the hourly RSI bearish at 45.78 levels. A fresh demand for Pounds can be anticipated once the pair rises above the hourly 200-SMA located at 1.5152 levels. In such a case, the pair is likely to test 1.5178 and 1.52 levels.”
“Given, the pair has sustained above 1.5131 levels, the probability of an up move is high.”
“On the other hand, a break below 1.5131 levels, is likely to push the pair down to 1.5074 and 1.5032 levels. Overall, the outlook stays bearish so long as the pair trades below 1.52 levels.”
Key Quotes
“The GBP/USD pair weakened on Friday at 1.5158 levels, after having recovered from the low of 1.5074 levels. The losses have been extended today as the pair trades low at 1.5134 levels, with the daily RSI bearish at 33.16 levels.”
“Meanwhile, on the hourly chart, the pair trades above the rising trend line support located at 1.5131 levels, with the hourly RSI bearish at 45.78 levels. A fresh demand for Pounds can be anticipated once the pair rises above the hourly 200-SMA located at 1.5152 levels. In such a case, the pair is likely to test 1.5178 and 1.52 levels.”
“Given, the pair has sustained above 1.5131 levels, the probability of an up move is high.”
“On the other hand, a break below 1.5131 levels, is likely to push the pair down to 1.5074 and 1.5032 levels. Overall, the outlook stays bearish so long as the pair trades below 1.52 levels.”