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13 Apr 2015
GBP/USD bearish for 1.4500 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest GBP/USD exhibits a bearish tone, and might slump towards 1.4500/20 if it breaks below the daily low at 1.4565.
Key Quotes
“The GBP/USD pair struggles around the 1.4600 level, having extended its decline to 1.4565, and almost 5 years low.”
“Technically, the 4 hours chart maintains a clear bearish tone, with the price developing below a bearish 20 SMA and the technical indicators heading lower near oversold levels.”
“A break through the daily low should fuel the slide towards the 1.4500/20 price zone, where some buying interest is expected to halt the slide.”
“To the upside, the immediate resistance stands at 1.4650, with a recovery above it unlikely for today.”
Key Quotes
“The GBP/USD pair struggles around the 1.4600 level, having extended its decline to 1.4565, and almost 5 years low.”
“Technically, the 4 hours chart maintains a clear bearish tone, with the price developing below a bearish 20 SMA and the technical indicators heading lower near oversold levels.”
“A break through the daily low should fuel the slide towards the 1.4500/20 price zone, where some buying interest is expected to halt the slide.”
“To the upside, the immediate resistance stands at 1.4650, with a recovery above it unlikely for today.”