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18 Mar 2015
GBP/USD sell-off towards 1.4698 likely – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, with cable facing rejection around 1.4765, a move lower towards 1.4698 is likely.
Key Quotes
“On the charts, the pair faced rejection earlier today at the 5-DMA located at 1.4765. Given the bearish RSI on the hourly and the 4-hour chart, the sell-off towards 1.4698 appears more likely.”
“However, a fresh demand for Pounds could be seen around 1.4698-1.47 in case the minutes sound hawkish. In such a case the immediate gains are likely to be capped around 1.4810-1.4830.”
“On the other hand, dovish minutes could send the pair down to 1.4650 levels.”
Key Quotes
“On the charts, the pair faced rejection earlier today at the 5-DMA located at 1.4765. Given the bearish RSI on the hourly and the 4-hour chart, the sell-off towards 1.4698 appears more likely.”
“However, a fresh demand for Pounds could be seen around 1.4698-1.47 in case the minutes sound hawkish. In such a case the immediate gains are likely to be capped around 1.4810-1.4830.”
“On the other hand, dovish minutes could send the pair down to 1.4650 levels.”