Back
10 Dec 2014
GBP/USD pressuring the daily descendant trend line – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, sees the GBP/USD pair pressuring the daily descendant trend line coming from 1.6182.
Key Quotes
“Technically and according to the 4 hours chart, the pair struggles around the daily descendant trend line coming from 1.6182, October 28th daily high, whilst momentum maintains a bullish slope above 100.”
“RSI in the mentioned time frame turns flat right above 50 due to the lack of directional strength, and 20 SMA remains flat around 1.5630. Multiple lows in the 1.5610/20 area offer immediate intraday support, and it will take a break below this area to see the pair regaining the downside towards 1.5550 price zone.”
“Sellers are aligned at 1.5700 and more in the 1.5740 price zone, meaning only a steady consolidation above this last would open the upward potential towards 1.5790/1.5825 price zone.”
Key Quotes
“Technically and according to the 4 hours chart, the pair struggles around the daily descendant trend line coming from 1.6182, October 28th daily high, whilst momentum maintains a bullish slope above 100.”
“RSI in the mentioned time frame turns flat right above 50 due to the lack of directional strength, and 20 SMA remains flat around 1.5630. Multiple lows in the 1.5610/20 area offer immediate intraday support, and it will take a break below this area to see the pair regaining the downside towards 1.5550 price zone.”
“Sellers are aligned at 1.5700 and more in the 1.5740 price zone, meaning only a steady consolidation above this last would open the upward potential towards 1.5790/1.5825 price zone.”