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2 Apr 2015
GBP/USD buyers around 1.4740/50 – FXStreet
FXStreet (Barcelona) - With GBP/USD bears shifting the price action to the negative side, Valeria Bednarik, Chief Analyst at FXStreet, mentions that the pair might find buyers around 1.4740/50 levels.
Key Quotes
“Technically, the 4 hours chart shows that sellers surged around 1.4870, with the price now extending below its 20 SMA and the indicators turning lower in neutral territory, all of which supports a limited downward continuation.”
“The immediate support stands in the 1.4740/50 area, where buying interest has surged during this week, triggering sharp bounces. Therefore, a clear break below the region is required to see the pair extending its decline down to 1.4690, the next static support. Above 1.4815 on the other hand, the pair may regain the upside and retest the daily highs.
Key Quotes
“Technically, the 4 hours chart shows that sellers surged around 1.4870, with the price now extending below its 20 SMA and the indicators turning lower in neutral territory, all of which supports a limited downward continuation.”
“The immediate support stands in the 1.4740/50 area, where buying interest has surged during this week, triggering sharp bounces. Therefore, a clear break below the region is required to see the pair extending its decline down to 1.4690, the next static support. Above 1.4815 on the other hand, the pair may regain the upside and retest the daily highs.