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16 Mar 2015
GBP/USD bearish bias intact – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, explains that technicals suggest the bearish tone for GBP/USD remains intact and upward correction might remain limited to 1.4860.
Key Quotes
“The technical picture shows that the bearish bias remains intact, with the price well below a bearish 20 SMA currently around 1.4860, whilst the Momentum indicator heads strongly south below 100 and the RSI consolidates around 31.”
“The pair can extend its upward corrective movement if the price establishes above the 1.4810 level, towards the mentioned 1.4860 level, where selling interest is expected to resume.”
“The immediate support stands now at 1.4750, with a price acceleration below favoring a retest of last Friday low, set at 1.4698.”
Key Quotes
“The technical picture shows that the bearish bias remains intact, with the price well below a bearish 20 SMA currently around 1.4860, whilst the Momentum indicator heads strongly south below 100 and the RSI consolidates around 31.”
“The pair can extend its upward corrective movement if the price establishes above the 1.4810 level, towards the mentioned 1.4860 level, where selling interest is expected to resume.”
“The immediate support stands now at 1.4750, with a price acceleration below favoring a retest of last Friday low, set at 1.4698.”