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14 May 2015
GBP/USD might advance up to 1.5840 – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, GBP/USD technicals remain supportive of the upside trend, and the pair might rise towards 1.5840 on a break above 1.5788.
Key Quotes
“The 4 hours chart shows that the Momentum indicator regained the upside after a limited correction, with a clear bearish divergence that is yet to be confirmed. In the same chart, the RSI indicator presents a limited upward slope around 78, while the 20 SMA head strongly north around 1.5650, all of which supports the dominant trend.”
“Should the dollar's sell-off continue, a price acceleration above the daily high can lead to an advance up to 1.5840, whilst above this last, the pair can approach to the 1.5900 figure.”
“The immediate short term support comes at 1.5715, with a break below exposing the pair to a downward corrective movement towards the mentioned 1.5650 level.”
Key Quotes
“The 4 hours chart shows that the Momentum indicator regained the upside after a limited correction, with a clear bearish divergence that is yet to be confirmed. In the same chart, the RSI indicator presents a limited upward slope around 78, while the 20 SMA head strongly north around 1.5650, all of which supports the dominant trend.”
“Should the dollar's sell-off continue, a price acceleration above the daily high can lead to an advance up to 1.5840, whilst above this last, the pair can approach to the 1.5900 figure.”
“The immediate short term support comes at 1.5715, with a break below exposing the pair to a downward corrective movement towards the mentioned 1.5650 level.”