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26 Jan 2015
GBP/USD consolidates - FXStreet
FXStreet (Barcelona) -Valeria Bednarik, Chief Analyst at FXStreet, notes that GBP/USD consolidates around 1.5000 levels since early Asian trading, showing little directional strength.
Key Quotes
“The Cable struggles around the 1.5000 level ever since early Asian opening, holding to a mild positive tone in the short term, but showing little directional strength in a quiet consolidative stage.”
“Technically, the 4 hours chart shows that 20 SMA maintains a bearish slope above current price, offering dynamic resistance around 1.5050 whilst indicators corrected oversold readings and stand flat in negative territory. The level should attract sellers if reached, although a price acceleration above it may see the upward corrective movement extending up to 1.5090/1.5110 price zone.”
“The immediate support stands at 1.4980 with a break below triggering a quick spike down to 1.4950 first, followed later by 1.4910/20 price zone.”
Key Quotes
“The Cable struggles around the 1.5000 level ever since early Asian opening, holding to a mild positive tone in the short term, but showing little directional strength in a quiet consolidative stage.”
“Technically, the 4 hours chart shows that 20 SMA maintains a bearish slope above current price, offering dynamic resistance around 1.5050 whilst indicators corrected oversold readings and stand flat in negative territory. The level should attract sellers if reached, although a price acceleration above it may see the upward corrective movement extending up to 1.5090/1.5110 price zone.”
“The immediate support stands at 1.4980 with a break below triggering a quick spike down to 1.4950 first, followed later by 1.4910/20 price zone.”