30 Mar 2015
GBP/USD sees scope to test 1.4690 – FXStreet
FXStreet (Barcelona) - With technicals suggesting the strong bearish momentum for GBP/USD is building, a move towards 1.4690 might be possible on a break below 1.4730, explains Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
“The 4 hours chart shows a strong bearish momentum coming from technical readings, as the price retraces from a bearish 20 SMA, currently around 1.4860.”
“Nevertheless, as long as below 1.4800, the downside is favored towards the next strong static support level at 1.4730, whilst if below this last, the downward potential may accelerate towards 1.4690.”
“Above 1.4800 on the other hand, the pair may advance up to the mentioned 1.4860, with selling interest probably surging near the level.”
Key Quotes
“The 4 hours chart shows a strong bearish momentum coming from technical readings, as the price retraces from a bearish 20 SMA, currently around 1.4860.”
“Nevertheless, as long as below 1.4800, the downside is favored towards the next strong static support level at 1.4730, whilst if below this last, the downward potential may accelerate towards 1.4690.”
“Above 1.4800 on the other hand, the pair may advance up to the mentioned 1.4860, with selling interest probably surging near the level.”