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20 Apr 2015
GBP/USD tone bearish – FXStreet
FXStreet (Barcelona) - With GBP/USD breaking below the key 1.4900 levels, technicals support additional declines if the pair manages to break below 1.4870, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
“The GBP/USD breaks below the 1.4900 figure ahead of the US opening, maintaining a short term bearish tone. The pair has retreated sharply from the high set on Friday in the 1.5050 region, which should discourage further buyers.”
“Technically, the 1 hour chart shows that the price extends below a bearish 20 SMA whilst the technical indicators head lower below their mid-lines.”
“In the 4 hours chart the price is extending below its 20 SMA and its 200 EMA, both converging around 1.4910 acting as strong dynamic resistance, whilst the Momentum indicator is crossing its 100 level towards the downside with a sharp bearish slope, signaling additional declines should the price extend below 1.4870, now the immediate support.”
“Support levels: 1.4870 1.4830 1.4790”
“Resistance levels: 1.4910 1.4950 1.5000”
Key Quotes
“The GBP/USD breaks below the 1.4900 figure ahead of the US opening, maintaining a short term bearish tone. The pair has retreated sharply from the high set on Friday in the 1.5050 region, which should discourage further buyers.”
“Technically, the 1 hour chart shows that the price extends below a bearish 20 SMA whilst the technical indicators head lower below their mid-lines.”
“In the 4 hours chart the price is extending below its 20 SMA and its 200 EMA, both converging around 1.4910 acting as strong dynamic resistance, whilst the Momentum indicator is crossing its 100 level towards the downside with a sharp bearish slope, signaling additional declines should the price extend below 1.4870, now the immediate support.”
“Support levels: 1.4870 1.4830 1.4790”
“Resistance levels: 1.4910 1.4950 1.5000”