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25 Feb 2015
GBP/USD likely to advance towards 1.5582 – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, GBP/USD might move upwards towards 1.5582 levels if the pair manages to recover above 1.5500.
Key Quotes
“From a technical point of view, the 1 hour chart shows that the price holds above a bullish 20 SMA although indicators turned lower, now approaching their midlines.”
“In the 4 hours chart the price holds also above a bullish 20 SMA while the technical indicators are retracing from near overbought levels, still well above their midlines.”
“If the price manages to recover above 1.5500, the pair will likely continue advancing towards the 1.5582 level this year high."
“Support levels: 1.5450 1.5420 1.5390"
“Resistance levels: 1.5500 1.5535 1.5580”
Key Quotes
“From a technical point of view, the 1 hour chart shows that the price holds above a bullish 20 SMA although indicators turned lower, now approaching their midlines.”
“In the 4 hours chart the price holds also above a bullish 20 SMA while the technical indicators are retracing from near overbought levels, still well above their midlines.”
“If the price manages to recover above 1.5500, the pair will likely continue advancing towards the 1.5582 level this year high."
“Support levels: 1.5450 1.5420 1.5390"
“Resistance levels: 1.5500 1.5535 1.5580”