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Trading news
16 Apr 2015
GBP/USD might weaken to 1.4765 – FXStreet
FXStreet (Barcelona) - According to Omkar Godbole, FXStreet Editor and Analyst, fresh signs of weakness can be seen in GBP/USD, and the pair might drop towards 1.4765 levels.
Key Quotes
“On the daily charts, we see the pair has eased from the high of 1.4878 to trade at 1.4836. The sell-off could extend till 1.4796 (23.6% Fib retracement of 1.5550-1.4564).”
“Given the bearish RSI on the daily charts, the pair could break below 1.4796 to test 10-DMA located at 1.4765 levels.”
“Moreover, the bullish RSI divergence seen on the daily charts on Tuesday appears to have played out. Thus, a fresh weakness is likely to be seen today.”
“In case the pair manages to sustain above 1.4796, the pair could re-test the daily high of 1.4878.”
Key Quotes
“On the daily charts, we see the pair has eased from the high of 1.4878 to trade at 1.4836. The sell-off could extend till 1.4796 (23.6% Fib retracement of 1.5550-1.4564).”
“Given the bearish RSI on the daily charts, the pair could break below 1.4796 to test 10-DMA located at 1.4765 levels.”
“Moreover, the bullish RSI divergence seen on the daily charts on Tuesday appears to have played out. Thus, a fresh weakness is likely to be seen today.”
“In case the pair manages to sustain above 1.4796, the pair could re-test the daily high of 1.4878.”