12 Jun 2015
GBP/USD needs a move above 1.5550 to see further gains – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, sees additional gains towards 1.56 levels if GBP/USD breaks above 1.5550 levels.
Key Quotes
“Technically, the 4 hours chart shows that the price remains well above a bullish 20 SMA, now the immediate support at 1.5450, whilst the Momentum indicator is heading lower above the 100 level, but the RSI aims higher around 59, which should keep the downside limited.”
“At this point, the pair needs to advance beyond the weekly high at 1.5550 to confirm a new leg higher, towards the 1.5600 region, whilst a break below the mentioned support at 1.5450, should lead to a steady decline down to 1.5390 later on in the day.”
Key Quotes
“Technically, the 4 hours chart shows that the price remains well above a bullish 20 SMA, now the immediate support at 1.5450, whilst the Momentum indicator is heading lower above the 100 level, but the RSI aims higher around 59, which should keep the downside limited.”
“At this point, the pair needs to advance beyond the weekly high at 1.5550 to confirm a new leg higher, towards the 1.5600 region, whilst a break below the mentioned support at 1.5450, should lead to a steady decline down to 1.5390 later on in the day.”