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10 Feb 2015
GBP/USD likely to test 1.5171 levels – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views GBP/USD may test 1.52 and then 1.5171 levels, with the pair repeatedly failing to sustain gains above 1.5250 levels.
Key Quotes
“The GBP/USD pair finished the previous session with minor losses after having failed to sustain gains above the 5-DMA. An attempt has been made today at the 5-DMA located at 1.5247 with the daily RSI bullish at 51.14 levels.”
“Meanwhile, the hourly chart shows, the pair is struggling near the head and shoulder neckline resistance at 1.5247.”
“The pair did break the HOS pattern in the previous session, although losses were restricted at 1.52 levels.”
“A fresh selling pressure can be anticipated if the pair fails to rise above 1.5247. In such a case, the pair could re-test 1.52 levels.”
“On the other hand, a fresh demand for Pounds can be seen above the hourly 50-SMA located at 1.5253.”
“Given, the repeated failure to sustain above 1.5250 the pair is more likely to test 1.52 and 1.5171 (10-DMA) levels.”
Key Quotes
“The GBP/USD pair finished the previous session with minor losses after having failed to sustain gains above the 5-DMA. An attempt has been made today at the 5-DMA located at 1.5247 with the daily RSI bullish at 51.14 levels.”
“Meanwhile, the hourly chart shows, the pair is struggling near the head and shoulder neckline resistance at 1.5247.”
“The pair did break the HOS pattern in the previous session, although losses were restricted at 1.52 levels.”
“A fresh selling pressure can be anticipated if the pair fails to rise above 1.5247. In such a case, the pair could re-test 1.52 levels.”
“On the other hand, a fresh demand for Pounds can be seen above the hourly 50-SMA located at 1.5253.”
“Given, the repeated failure to sustain above 1.5250 the pair is more likely to test 1.52 and 1.5171 (10-DMA) levels.”