16 Jan 2015
GBP/USD likely to test 1.5150 today – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, the GBP/USD pair is likely to test 1.5150 levels today, with chances of the weakness extending further to 1.5122 levels.
Key Quotes
“The GBP/USD saw another failure to rise above the resistance at 1.5270 levels yesterday, post which it fell below 1.52 levels to finish the session at 1.5173 levels. The closing below 1.52 levels most likely re-enforced bears due to which the pair once again struggled near 1.52 levels today. Consequently, the daily RSI stays bearish at 34 levels.”
“Meanwhile, the hourly chart shows, the pair is inching lower after struggling near the 50-SMA levels located at 1.5202. The hourly RSI has also turned lower 48.00 levels. Thus, the pair likely to test 1.5150 levels today. The weakness may be extended further to the channels support located at 1.5122 levels.”
“On the other hand, the GBP bulls may come back in case the pair confirms a close above 1.52 levels on the hourly chart. In such a case, the pair could make another attempt at 1.5270 levels.”
Key Quotes
“The GBP/USD saw another failure to rise above the resistance at 1.5270 levels yesterday, post which it fell below 1.52 levels to finish the session at 1.5173 levels. The closing below 1.52 levels most likely re-enforced bears due to which the pair once again struggled near 1.52 levels today. Consequently, the daily RSI stays bearish at 34 levels.”
“Meanwhile, the hourly chart shows, the pair is inching lower after struggling near the 50-SMA levels located at 1.5202. The hourly RSI has also turned lower 48.00 levels. Thus, the pair likely to test 1.5150 levels today. The weakness may be extended further to the channels support located at 1.5122 levels.”
“On the other hand, the GBP bulls may come back in case the pair confirms a close above 1.52 levels on the hourly chart. In such a case, the pair could make another attempt at 1.5270 levels.”