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31 Mar 2015
GBP/USD to stay put in the 1.4748-1.4819 range – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, GBP/USD might remain trapped in the 1.4748-1.4819 range in the European session.
Key Quotes
“On the charts, the pair has breached the support at 1.48 and trades between the 61.8% Fib and 76.4% Fib retracement level of the move from 1.4633-1.5122 located at 1.4819 and 1.4748.”
“The sell-off in the previous session stalled around the 76.4% Fib retracement at 1.4748.”
“The pair could rise to 1.48-1.4819 in anticipation of an upbeat year-on-year Q4 GDP. However, gains could be capped around 1.4819 as it would take a surprisingly strong data to overshadow election uncertainty and falling inflation.”
“On the other hand, the downside appears restricted around 1.4748. Given, the bearish RSI on the daily, hourly and 4-hour time frame, the pair could fall back to 1.4748 levels after re-testing 1.48-1.4819.”
“Overall, the pair is likely to remain capped in the range of 1.4748-1.4819 atleast throughout the European session.”
Key Quotes
“On the charts, the pair has breached the support at 1.48 and trades between the 61.8% Fib and 76.4% Fib retracement level of the move from 1.4633-1.5122 located at 1.4819 and 1.4748.”
“The sell-off in the previous session stalled around the 76.4% Fib retracement at 1.4748.”
“The pair could rise to 1.48-1.4819 in anticipation of an upbeat year-on-year Q4 GDP. However, gains could be capped around 1.4819 as it would take a surprisingly strong data to overshadow election uncertainty and falling inflation.”
“On the other hand, the downside appears restricted around 1.4748. Given, the bearish RSI on the daily, hourly and 4-hour time frame, the pair could fall back to 1.4748 levels after re-testing 1.48-1.4819.”
“Overall, the pair is likely to remain capped in the range of 1.4748-1.4819 atleast throughout the European session.”