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1 Apr 2015
GBP/USD: lower lows in sight – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, GBP/USD technicals present a bearish tone, and a move below 1.4739 might trigger further losses towards 1.4650 today.
Key Quotes
“The GBP/USD pair challenges its recent lows, having so far traded as low as 1.4739 in the day.”
“Technically, the current price zone has proved strong these last few days, and it will take more than a 10 pips spike below it to confirm a break through.”
“In the 4 hours chart, the technical indicators present a strong downward momentum below their mid-lines, whilst the price accelerated below its 20 SMA, all of which keeps the risk towards the downside.”
“Renewed selling pressure below the mentioned daily low should lead to a downward continuation towards 1.4690, whilst below this last, 1.4650 is the next probable bearish target for the day.”
“The immediate resistance is the 1.4800 price zone, with some steady gains above it required to see an change in the intraday bias, and the pair recovering towards the 1.4840/60 price zone.”
Key Quotes
“The GBP/USD pair challenges its recent lows, having so far traded as low as 1.4739 in the day.”
“Technically, the current price zone has proved strong these last few days, and it will take more than a 10 pips spike below it to confirm a break through.”
“In the 4 hours chart, the technical indicators present a strong downward momentum below their mid-lines, whilst the price accelerated below its 20 SMA, all of which keeps the risk towards the downside.”
“Renewed selling pressure below the mentioned daily low should lead to a downward continuation towards 1.4690, whilst below this last, 1.4650 is the next probable bearish target for the day.”
“The immediate resistance is the 1.4800 price zone, with some steady gains above it required to see an change in the intraday bias, and the pair recovering towards the 1.4840/60 price zone.”