7 Apr 2015
GBP/USD to keep the 1.4860-1.4935 range – FXStreet
FXStreet (Barcelona) - Omkar Godbole, FXStreet Editor and Analyst, gives the technical outlook and key levels for GBP/USD, expecting the pair to maintain the 1.4860-1.4935 range.
Key Quotes
“On the charts, we see the pair is trading at its 5-DMA located at 1.4888 levels. Given the failure to sustain above 1.4935 (38.25 Fib retracement of 1.4633-1.5122), the immediate upside is likely to be capped around the same.”
“Moreover, it would take a daily close above 1.4935 for a change in the short-term outlook.”
“Meanwhile, 1.4878 (50% Fib retracement of 1.4633-1.5122) has acted as a support during the Asian session today. A break below 1.4878 could drive the pair lower to 1.4849 (23.6% Fib retracement of 1.5550-1.4633).”
“Overall, the pair is likely to remain capped in the range of 1.4935-1.4860.”
Key Quotes
“On the charts, we see the pair is trading at its 5-DMA located at 1.4888 levels. Given the failure to sustain above 1.4935 (38.25 Fib retracement of 1.4633-1.5122), the immediate upside is likely to be capped around the same.”
“Moreover, it would take a daily close above 1.4935 for a change in the short-term outlook.”
“Meanwhile, 1.4878 (50% Fib retracement of 1.4633-1.5122) has acted as a support during the Asian session today. A break below 1.4878 could drive the pair lower to 1.4849 (23.6% Fib retracement of 1.5550-1.4633).”
“Overall, the pair is likely to remain capped in the range of 1.4935-1.4860.”