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15 Apr 2015
GBP/USD sellers near 1.4800 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that GBP/USD sellers might take over if the pair fails to break above 1.4800.
Key Quotes
“On the hourly chart, we see the pair breached the inverted head and shoulder formation, which opened doors for a target of 1.4830-1.4850. However, the gains have been capped at hourly 200-MA currently positioned at 1.4791.”
“The rejection at 1.4790-1.48 pushed the pair below 1.4768 (50% Fib retracement of 1.4971-1.4565), although the pair appears to have stabilized around 1.4750 levels.”
“Given, the bullish RSI divergence on the daily charts, we could see another attempt at 1.48 levels.”
“A break above the same could open doors for 1.4850. On the other hand, failure to break above 1.48 could see a fresh selling interest.”
Key Quotes
“On the hourly chart, we see the pair breached the inverted head and shoulder formation, which opened doors for a target of 1.4830-1.4850. However, the gains have been capped at hourly 200-MA currently positioned at 1.4791.”
“The rejection at 1.4790-1.48 pushed the pair below 1.4768 (50% Fib retracement of 1.4971-1.4565), although the pair appears to have stabilized around 1.4750 levels.”
“Given, the bullish RSI divergence on the daily charts, we could see another attempt at 1.48 levels.”
“A break above the same could open doors for 1.4850. On the other hand, failure to break above 1.48 could see a fresh selling interest.”