1 Dec 2014
GBP/USD bear bias to 1.5503/00 today – MarketChartist
FXStreet (Barcelona) - Steve Miley of MarketChartist, sees bearish pressures re-energizing in December for GBP/USD, and anticipates the pair to head towards 1.5320 levels this week.
Key Quotes
“GBPUSD bear bias to 1.5503/00 today; to 1.5430, maybe 1.5320 this week”
“We also see bearish pressures re-energizing into early December, given the previous surrender of chart/61.8% retrace support 1.5750/20.”
“The risk now into early December is for a bearish extension through 1.5590 to a key swing low at 1.5430.”
“Interim targets are at 1.5590 and 1.5503/00.”
“Overshoot threat for December is to the 78.6% retrace support at 1.5320.”
Key Quotes
“GBPUSD bear bias to 1.5503/00 today; to 1.5430, maybe 1.5320 this week”
“We also see bearish pressures re-energizing into early December, given the previous surrender of chart/61.8% retrace support 1.5750/20.”
“The risk now into early December is for a bearish extension through 1.5590 to a key swing low at 1.5430.”
“Interim targets are at 1.5590 and 1.5503/00.”
“Overshoot threat for December is to the 78.6% retrace support at 1.5320.”