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18 Mar 2015
GBP/USD sees scope for further declines – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, views that GBP/USD might see some consolidation, but move lower towards 1.4600/20 price zone on a break below 1.4650.
Key Quotes
“The pair fell down to 1.4657 and trades barely above the level, with the 4 hours chart presenting a strong bearish tone, as the price was once again rejected by a strongly bearish 20 SMA and the technical indicators turned sharply lower below their midlines.”
“The price may consolidate some at current levels, but a break below 1.4650 should lead to a downward extension towards the 1.4600/20 price zone.”
“To the upside, former low at 1.4698 comes as the immediate resistance, with some steady gains above it leading to an advance up to the 1.4740/60 price zone.”
Key Quotes
“The pair fell down to 1.4657 and trades barely above the level, with the 4 hours chart presenting a strong bearish tone, as the price was once again rejected by a strongly bearish 20 SMA and the technical indicators turned sharply lower below their midlines.”
“The price may consolidate some at current levels, but a break below 1.4650 should lead to a downward extension towards the 1.4600/20 price zone.”
“To the upside, former low at 1.4698 comes as the immediate resistance, with some steady gains above it leading to an advance up to the 1.4740/60 price zone.”