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3 Dec 2014
GBP/USD likely to see selling pressure below 1.5624 levels – FXStreet
FXStreet (Barcelona) - FXStreet Analyst and Editor, Omkar Godbole, notes that sellers might get activated if the GBP/USD pair falls below the 1.5624 support.
Key Quotes
“A fresh demand for Pounds can be anticipated once the pair rises above 1.5651 levels, which would also push the hourly RSI above 50.00 levels. In such a case, the pair is likely to test 1.5680 levels.”
“On the other hand, a fresh selling pressure can be anticipated below the channel support on the daily chart at 1.5624 levels. However, the immediate downside in the pair appears capped around Dec. 1 low of 1.5585 levels.”
Key Quotes
“A fresh demand for Pounds can be anticipated once the pair rises above 1.5651 levels, which would also push the hourly RSI above 50.00 levels. In such a case, the pair is likely to test 1.5680 levels.”
“On the other hand, a fresh selling pressure can be anticipated below the channel support on the daily chart at 1.5624 levels. However, the immediate downside in the pair appears capped around Dec. 1 low of 1.5585 levels.”