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29 Dec 2014
GBP/USD breaking lower – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares that the GBP/USD pair accelerated downwards following news that the Greek voting results, breaking below the short term ascendant trend line coming from this year’s low of 1.5485.
Key Quotes
“The GBP/USD pair accelerated south following news the Greek government failed to secure a majority in its last ballot, triggering snap elections in the country.”
“The GBP/USD fell to a daily low of 1.5534 and breaking below a short term ascendant trend line coming from this year low of 1.5485.”
“The 4 hours chart shows that the price extended below a bearish 20 SMA whilst indicators turned lower around their midlines.”
“The pair however trades within recent range, and current 1.5540 price zone has provided strong support in the past, so it will take further declines, at least below the 1.5520 level, to confirm a downward continuation towards the mentioned year low.”
“The broken trend line stands now around 1.5560 offering immediate short term resistance, and a recovery above it should point for a recovery up towards the 1.5590 price zone.”
Key Quotes
“The GBP/USD pair accelerated south following news the Greek government failed to secure a majority in its last ballot, triggering snap elections in the country.”
“The GBP/USD fell to a daily low of 1.5534 and breaking below a short term ascendant trend line coming from this year low of 1.5485.”
“The 4 hours chart shows that the price extended below a bearish 20 SMA whilst indicators turned lower around their midlines.”
“The pair however trades within recent range, and current 1.5540 price zone has provided strong support in the past, so it will take further declines, at least below the 1.5520 level, to confirm a downward continuation towards the mentioned year low.”
“The broken trend line stands now around 1.5560 offering immediate short term resistance, and a recovery above it should point for a recovery up towards the 1.5590 price zone.”