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24 Feb 2015
GBP/USD: stronger USD risks additional slides – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, explains that with USD strengthening across the board risks are building for additional slides in GBP/USD, with the pair supported in the short-term at 1.5425 levels.
Key Quotes
“The GBP/USD holds steady near the highs reached yesterday at 1.5474, finding some short term support around 1.5425 on retracements. Across the board, the dollar continues to strengthen against most of its rivals, increasing the risk of additional slides in the pair.”
“Technically, the 4 hours chart presents a neutral-to-bullish stance, as the price holds above a flat 20 SMA, currently at 1.5415, whilst indicators hover around their midlines, with no clear directional strength.”
“If the price breaks below the mentioned 1.5415, the pair may extend its decline down to the 1.5370/80 area whilst beyond this last 1.5320 area comes next.”
“To the upside, price needs to accelerate above 1.5480, where the pair stalled twice these days, to be able to extend its rally up to 1.5530 price zone.”
Key Quotes
“The GBP/USD holds steady near the highs reached yesterday at 1.5474, finding some short term support around 1.5425 on retracements. Across the board, the dollar continues to strengthen against most of its rivals, increasing the risk of additional slides in the pair.”
“Technically, the 4 hours chart presents a neutral-to-bullish stance, as the price holds above a flat 20 SMA, currently at 1.5415, whilst indicators hover around their midlines, with no clear directional strength.”
“If the price breaks below the mentioned 1.5415, the pair may extend its decline down to the 1.5370/80 area whilst beyond this last 1.5320 area comes next.”
“To the upside, price needs to accelerate above 1.5480, where the pair stalled twice these days, to be able to extend its rally up to 1.5530 price zone.”