9 Apr 2015
GBP/USD sellers above 1.4935 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that GBP/USD might meet selling pressure near 1.4935, with the pair currently capped by the resistance at 1.4878 and supported at 1.4849 levels.
Key Quotes
“On the daily charts, we see an inverted hammer formation on Wednesday, with closing at 1.4874 levels. The pair has taken support at 1.4849, which is the 23.6% Fib retracement of 1.5550-1.4633, while the gains are being capped at 1.4878, which is the 50% Fib retracement of 1.4633-1.5122.”
“An inverted hammer candle increases the probability of an up move, although the pair has been repeatedly sold above 1.4935 levels. Thus, sellers are seen anywhere above 1.4935.”
“On the other hand, a drop below 1.4850, could push the pair down to 1.48 levels.”
“In case the pair breaks above 1.4878 in the early European session, we are likely to see a quick move to 1.4900-1.4935 levels.”
Key Quotes
“On the daily charts, we see an inverted hammer formation on Wednesday, with closing at 1.4874 levels. The pair has taken support at 1.4849, which is the 23.6% Fib retracement of 1.5550-1.4633, while the gains are being capped at 1.4878, which is the 50% Fib retracement of 1.4633-1.5122.”
“An inverted hammer candle increases the probability of an up move, although the pair has been repeatedly sold above 1.4935 levels. Thus, sellers are seen anywhere above 1.4935.”
“On the other hand, a drop below 1.4850, could push the pair down to 1.48 levels.”
“In case the pair breaks above 1.4878 in the early European session, we are likely to see a quick move to 1.4900-1.4935 levels.”