7 May 2015
GBP/USD mildly bearish – FXStreet
FXStreet (Barcelona) - Technicals suggest that GBP/USD remains mildly bearish, with gains capped at 1.5260 region while the nearest support lies at 1.5095, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
“The GBP/USD pair saw an early dip to 1.5163 with the European opening, dragged lower by a slump in the London benchmark, the FTSE 100. The UK is going to the voting polls today, which means both, the Pound and the FTSE 100 will be subject to high volatile moves.”
“Technically, the 1 hour chart shows that the pair trades within the early week range above the 1.5200 level, but presents a mild bearish tone as the price can't advance above its 20 SMA, now offering short term resistance in the 1.5250 region, whilst the technical indicators head slightly lower below their mid-lines.”
“In the 4 hours chart however, the pair found buyers around its 20 SMA, whilst the technical indicators stand directionless above their mid-lines.”
“Support levels: 1.5095 1.5060 1.5020”
“Resistance levels: 1.5260 1.5300 1.5340”
Key Quotes
“The GBP/USD pair saw an early dip to 1.5163 with the European opening, dragged lower by a slump in the London benchmark, the FTSE 100. The UK is going to the voting polls today, which means both, the Pound and the FTSE 100 will be subject to high volatile moves.”
“Technically, the 1 hour chart shows that the pair trades within the early week range above the 1.5200 level, but presents a mild bearish tone as the price can't advance above its 20 SMA, now offering short term resistance in the 1.5250 region, whilst the technical indicators head slightly lower below their mid-lines.”
“In the 4 hours chart however, the pair found buyers around its 20 SMA, whilst the technical indicators stand directionless above their mid-lines.”
“Support levels: 1.5095 1.5060 1.5020”
“Resistance levels: 1.5260 1.5300 1.5340”