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31 Mar 2015
GBP/USD might see additional declines below 1.4750 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, sees further declines for GBP/USD if the pair manages to break below the support at 1.4750.
Key Quotes
“The GBP/USD fell down to 1.4754 before recovering, limited to the downside by a positive surprise on the final revision of Q4 GDP figures, up to 0.6%.”
“The pair however trades below its daily opening, and the 1 hour chart shows that the price struggles around a bearish 20 SMA, whilst the technical indicators remain in neutral territory.”
“In the 4 hours chart the 20 SMA heads lower above the current price while the technical indicators retrace from their mid-lines and maintain their bearish slopes, supporting additional declines if the 1.4750 level gives up.”
“Support levels: 1.4750 1.4710 1.4670“
“Resistance levels: 1.4805 1.4840 1.4890”
Key Quotes
“The GBP/USD fell down to 1.4754 before recovering, limited to the downside by a positive surprise on the final revision of Q4 GDP figures, up to 0.6%.”
“The pair however trades below its daily opening, and the 1 hour chart shows that the price struggles around a bearish 20 SMA, whilst the technical indicators remain in neutral territory.”
“In the 4 hours chart the 20 SMA heads lower above the current price while the technical indicators retrace from their mid-lines and maintain their bearish slopes, supporting additional declines if the 1.4750 level gives up.”
“Support levels: 1.4750 1.4710 1.4670“
“Resistance levels: 1.4805 1.4840 1.4890”