21 Jan 2015
GBP/USD might make another attempt towards 1.52 levels – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, the GBP/USD pair might make another try to test 1.52 levels today, but immediate gains are likely to be capped around 1.5260 levels.
Key Quotes
“The GBP/USD pair formed a green spinning bottom candle as it finished higher at 1.5154 after having clocked a high of 1.5201. Earlier yesterday, the pair managed to recover sharply from 1.5057 levels.“
“Meanwhile, the hourly chart shows, the pair has managed to bounce back from 1.5135 levels, which happens to be the trend line support and the hourly 50-SMA support. Consequently, the hourly RSI has managed to stay bullish at 54.55 levels. Thus, another attempt at 1.52 levels can be anticipated today.”
“A break above 1.52 levels shall see the pair test the inverted head and shoulder neckline located at 1.5212. A breach of the same shall open doors for a technical target of 1.5367. However, immediate gains are likely to be capped around 1.5260 levels.”
“On the other hand, the GBP bears would come-in strong once the pair falls below the trend line support currently located at 1.5128, which could push the pair down to 1.5057 levels.”
Key Quotes
“The GBP/USD pair formed a green spinning bottom candle as it finished higher at 1.5154 after having clocked a high of 1.5201. Earlier yesterday, the pair managed to recover sharply from 1.5057 levels.“
“Meanwhile, the hourly chart shows, the pair has managed to bounce back from 1.5135 levels, which happens to be the trend line support and the hourly 50-SMA support. Consequently, the hourly RSI has managed to stay bullish at 54.55 levels. Thus, another attempt at 1.52 levels can be anticipated today.”
“A break above 1.52 levels shall see the pair test the inverted head and shoulder neckline located at 1.5212. A breach of the same shall open doors for a technical target of 1.5367. However, immediate gains are likely to be capped around 1.5260 levels.”
“On the other hand, the GBP bears would come-in strong once the pair falls below the trend line support currently located at 1.5128, which could push the pair down to 1.5057 levels.”