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8 Jan 2015
GBP/USD sees no relief, unable to move above 1.5100 levels – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, explains that Cable sees no relief after posting a low at 1.5033 levels, further anticipating the pair to test 1.5000 levels on a break below 1.5040.
Key Quotes
“The Cable sees no relief these days, posting a lower low of a year and a half at 1.5033 early in
the European session, and unable to recover above the 1.5100 level.”
“Technically, the 1 hour chart shows that the price advances towards a bearish 20 SMA, while indicators recovered and also aim higher, but remain below their midlines.”
“In the 4 hours chart the price remains below a bearish 20 SMA currently around 1.5160 whilst indicators turned higher but are far from suggesting a continued advance. The price needs at least to advance above 1.5110 to extend its intraday recovering in the upcoming hours, although renewed selling interest below 1.5040 should see the pair testing the 1.5000 figure.”
Key Quotes
“The Cable sees no relief these days, posting a lower low of a year and a half at 1.5033 early in
the European session, and unable to recover above the 1.5100 level.”
“Technically, the 1 hour chart shows that the price advances towards a bearish 20 SMA, while indicators recovered and also aim higher, but remain below their midlines.”
“In the 4 hours chart the price remains below a bearish 20 SMA currently around 1.5160 whilst indicators turned higher but are far from suggesting a continued advance. The price needs at least to advance above 1.5110 to extend its intraday recovering in the upcoming hours, although renewed selling interest below 1.5040 should see the pair testing the 1.5000 figure.”