28 Apr 2015
GBP/USD: sentiment favours 1.53 levels – FXStreet
FXStreet (Barcelona) - With sentiment driving GBP/USD, Valeria Bednarik, Chief Analyst at FXStreet, notes technicals remain supportive for the pair to push higher towards 1.5300/10 levels.
Key Quotes
“Sentiment is leading the way rather than technical readings, as market expects now some progress in Greek negotiations with its creditors.”
“Technically, the pair remains near its daily high, with a strongly bullish 20 SMA well below the current price, and the RSI indicator maintaining its bullish slope, despite being in overbought territory.”
“The Momentum indicator lacks directional strength at the time being, but remains in positive territory, all of which suggest the pair may reach the 1.5300/10 region, should the price break above the daily high.”
“The immediate support stands at 1.5220, followed by the mentioned daily low in the 1.5170 price zone, where buying interest is expected to resume.”
Key Quotes
“Sentiment is leading the way rather than technical readings, as market expects now some progress in Greek negotiations with its creditors.”
“Technically, the pair remains near its daily high, with a strongly bullish 20 SMA well below the current price, and the RSI indicator maintaining its bullish slope, despite being in overbought territory.”
“The Momentum indicator lacks directional strength at the time being, but remains in positive territory, all of which suggest the pair may reach the 1.5300/10 region, should the price break above the daily high.”
“The immediate support stands at 1.5220, followed by the mentioned daily low in the 1.5170 price zone, where buying interest is expected to resume.”