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25 May 2015
GBP/USD might see further losses below 1.5445 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, sees further downside potential for GBP/USD towards 1.5353 and 1.5336 if the pair breaks below 1.5445.
Key Quotes
“The exhaustion near 1.57 followed by the sharp sell-off below the rising trend line on the daily chart and 1.5519 (23.6% R of 1.4564-1.5813) indicates the near-term top has been made.”
“Only a daily close above 1.57 levels could increase the probability of pair breaching 1.5813 to rise further to 1.6 levels.”
“At the moment, the pair is trading just below its hourly 100-MA located at 1.5485. The RSI is heavy on the intraday charts, while the daily RSI is threatening to fall below 50.00 levels. A break below 1.5445 could expose 1.5353 and 1.5336 (38.2% R of 1.4564-1.5813).”
Key Quotes
“The exhaustion near 1.57 followed by the sharp sell-off below the rising trend line on the daily chart and 1.5519 (23.6% R of 1.4564-1.5813) indicates the near-term top has been made.”
“Only a daily close above 1.57 levels could increase the probability of pair breaching 1.5813 to rise further to 1.6 levels.”
“At the moment, the pair is trading just below its hourly 100-MA located at 1.5485. The RSI is heavy on the intraday charts, while the daily RSI is threatening to fall below 50.00 levels. A break below 1.5445 could expose 1.5353 and 1.5336 (38.2% R of 1.4564-1.5813).”