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2 Apr 2015
GBP/USD needs to accelerate above 1.4850/60 - FXStreet
FXStreet (Bali) - GBP/USD needs to accelerate above 1.4850/60 area to build a more constructive profile and expose 1.4920, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"From a technical point of view, the upside remains limited, as the 1 hour chart shows that the price consolidates a few pips above a flat 20 SMA, albeit the technical indicators are flat below their mid-lines."
"In the 4 hours chart the price struggles around its 20 SMA that presents a tepid bearish slope, whilst the technical indicators hover in neutral territory, with the RSI still below 50."
"In the same chart, the pair is developing inside a short term descendant channel, with the roof in the 1.4850/60 area for the upcoming hours. The pair needs to accelerate above this area to be able to extend its gains, eyeing then an advance up to the 1.4920 price zone."
Key Quotes
"From a technical point of view, the upside remains limited, as the 1 hour chart shows that the price consolidates a few pips above a flat 20 SMA, albeit the technical indicators are flat below their mid-lines."
"In the 4 hours chart the price struggles around its 20 SMA that presents a tepid bearish slope, whilst the technical indicators hover in neutral territory, with the RSI still below 50."
"In the same chart, the pair is developing inside a short term descendant channel, with the roof in the 1.4850/60 area for the upcoming hours. The pair needs to accelerate above this area to be able to extend its gains, eyeing then an advance up to the 1.4920 price zone."