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10 Feb 2015
GBP/USD sellers near 1.5230/50 levels – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, GBP/USD upside seems to be limited by short-term selling interest near the 1.5230/50 region.
Key Quotes
“[..] the GBP/USD pair is accelerating lower, [..] and the 4 hours chart supports further declines as the technical indicators head lower below their midlines, whilst the price extends below its 20 SMA.”
“Furthermore, the pair seems ready to break below the 38.2% retracement of the latest daily run around current levels, pointing for a quick test of the 1.5150/60 price zone."
“If the price falls beyond this last, the next bearish target comes at 1.5110/20.”
“The upside seems limited by short term selling interest in the 1.5230/50 area, and it will take a steady advance above this last to deny the possibility of more falls today.”
Key Quotes
“[..] the GBP/USD pair is accelerating lower, [..] and the 4 hours chart supports further declines as the technical indicators head lower below their midlines, whilst the price extends below its 20 SMA.”
“Furthermore, the pair seems ready to break below the 38.2% retracement of the latest daily run around current levels, pointing for a quick test of the 1.5150/60 price zone."
“If the price falls beyond this last, the next bearish target comes at 1.5110/20.”
“The upside seems limited by short term selling interest in the 1.5230/50 area, and it will take a steady advance above this last to deny the possibility of more falls today.”