28 Apr 2015
GBP/USD might be offered below 1.5228 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, sees fresh offers for GBP/USD in case the pair fails to hold 1.5228 levels, expecting a move lower from here towards 1.5173.
Key Quotes
“The pair currently trades at 1.5228, which is the 76.4% Fib expansion level of 1.4564-1.5051-1.4854. In the previous session, the pair failed to sustain gains above the same and ended at 1.5221.”
“The fresh offers could be seen in case the pair fails to sustain above 1.5228 as the hourly chart shows bearish RSI divergence. The RSI is also overbought on the 4-hour time frame. Hence, fresh offers could push the pair down to 1.5173 (61.8% Fib retracement of 1.5550-1.4564), a break below which exposes 1.5158 (61.8% Fib expansion of 1.4564-1.5051-1.4854).”
“On the other hand, fresh bids are seen above 1.5260-1.5265, which could push the pair to 1.5318 (76.4% Fib retracement of 1.5550-1.4564).”
Key Quotes
“The pair currently trades at 1.5228, which is the 76.4% Fib expansion level of 1.4564-1.5051-1.4854. In the previous session, the pair failed to sustain gains above the same and ended at 1.5221.”
“The fresh offers could be seen in case the pair fails to sustain above 1.5228 as the hourly chart shows bearish RSI divergence. The RSI is also overbought on the 4-hour time frame. Hence, fresh offers could push the pair down to 1.5173 (61.8% Fib retracement of 1.5550-1.4564), a break below which exposes 1.5158 (61.8% Fib expansion of 1.4564-1.5051-1.4854).”
“On the other hand, fresh bids are seen above 1.5260-1.5265, which could push the pair to 1.5318 (76.4% Fib retracement of 1.5550-1.4564).”