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20 May 2015
GBP/USD technicals supporting additional gains – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, explains that GBP/USD technicals remain supportive for additional gains towards 1.5620.
Key Quotes
“The GBP/USD pair recovered from a daily low of 1.5471 on the back of BOE's Minutes, which resulted less dovish than expected and showed that all of the 9 MPC members voted to keep their current economic policy unchanged.”
“The 1 hour chart shows that the price stands above a flat 20 SMA around 1.5500, whilst the technical indicators regained positive ground and head higher, anticipating additional short term advances.”
“In the 4 hours chart, the technical indicators are bouncing from oversold readings, albeit the price struggles around the 38.2% retracement of its latest daily bullish run, with further gains supporting an intraday advance up to 1.5620.”
“Support levels: 1.5440 1.5400 1.5360”
“Resistance levels: 1.5545 1.5585 1.5620”
Key Quotes
“The GBP/USD pair recovered from a daily low of 1.5471 on the back of BOE's Minutes, which resulted less dovish than expected and showed that all of the 9 MPC members voted to keep their current economic policy unchanged.”
“The 1 hour chart shows that the price stands above a flat 20 SMA around 1.5500, whilst the technical indicators regained positive ground and head higher, anticipating additional short term advances.”
“In the 4 hours chart, the technical indicators are bouncing from oversold readings, albeit the price struggles around the 38.2% retracement of its latest daily bullish run, with further gains supporting an intraday advance up to 1.5620.”
“Support levels: 1.5440 1.5400 1.5360”
“Resistance levels: 1.5545 1.5585 1.5620”