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6 May 2015
GBP/USD bearish below 1.5272 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, sees downside potential for GBP/USD towards 1.5165-1.5136 if the pair fails to sustain above 1.5208 levels.
Key Quotes
“The pair currently trades at 1.5210, after having managed to sustain above its 100-MA at 1.5088 in the previous two sessions.”
“The immediate upside appears capped at 1.5231 (10-DMA). Fresh bids are seen above the same which could take the pair higher to 1.5272 (23.6% Fib retracement of 1.4564-1.5490).”
“Meanwhile, failure to sustain above the hourly 200-MA at 1.5208 could see fresh offers pushing the pair back to 1.5165-1.5136 (38.2% Fib retracement of 1.4564-1.5490). A break below 1.5136 could shift the risk in favor of further declines to 1.5026 levels. The short-term outlook stays bearish so long as the pair trades below 1.5272.”
Key Quotes
“The pair currently trades at 1.5210, after having managed to sustain above its 100-MA at 1.5088 in the previous two sessions.”
“The immediate upside appears capped at 1.5231 (10-DMA). Fresh bids are seen above the same which could take the pair higher to 1.5272 (23.6% Fib retracement of 1.4564-1.5490).”
“Meanwhile, failure to sustain above the hourly 200-MA at 1.5208 could see fresh offers pushing the pair back to 1.5165-1.5136 (38.2% Fib retracement of 1.4564-1.5490). A break below 1.5136 could shift the risk in favor of further declines to 1.5026 levels. The short-term outlook stays bearish so long as the pair trades below 1.5272.”