7 May 2015
GBP/USD sees an upside bias – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest GBP/USD sees an upside bias, with broad USD weakness supporting additional gains if the pair moves above 1.5260.
Key Quotes
“Technically, the bias is higher as the 4 hours chart shows that the price surged after a brief decline below its 20 SMA, whilst the technical indicators aim higher above their mid-lines.”
“Broad dollar weakness supports additional advances, should the pair advance beyond 1.5260, the immediate resistance, towards the 1.5300 region.”
“Below 1.5200 on the other hand, the risk turns to the downside, eyeing in the short term the 1.5150/60 support zone.”
“Nevertheless, tight stops are recommended for today and even better, staying neutral in the pair until a more clear picture comes from the political side later on in the day.”
Key Quotes
“Technically, the bias is higher as the 4 hours chart shows that the price surged after a brief decline below its 20 SMA, whilst the technical indicators aim higher above their mid-lines.”
“Broad dollar weakness supports additional advances, should the pair advance beyond 1.5260, the immediate resistance, towards the 1.5300 region.”
“Below 1.5200 on the other hand, the risk turns to the downside, eyeing in the short term the 1.5150/60 support zone.”
“Nevertheless, tight stops are recommended for today and even better, staying neutral in the pair until a more clear picture comes from the political side later on in the day.”