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23 Apr 2015
GBP/USD immediate resistance at 1.5057 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, sees further upside potential for GBP/USD towards 1.5100 levels if the pair manages to break above the resistance at 1.5057 levels.
Key Quotes
“On the daily chart, we see the pair managed to finish above 1.5 levels in the previous session, thereby opening doors for further gains. The 50% Fib retracement of 1.5550-1.4564 at 1.5057 could act as a resistance, although the bullish daily closing is likely to ensure the pair rises above the same. The immediate gains appear capped at the 100-DMA located at 1.51.”
“Meanwhile, fresh offers could be seen in case the pair fails to rise above 1.5057. In such a case, the losses are likely to be capped around 1.4973 (5-DMA).”
“It remains to be seen if the pair manages to finish the New York session above 1.5 levels. If we have a daily close below 1.5, the bears are likely to regain control from tomorrow.”
Key Quotes
“On the daily chart, we see the pair managed to finish above 1.5 levels in the previous session, thereby opening doors for further gains. The 50% Fib retracement of 1.5550-1.4564 at 1.5057 could act as a resistance, although the bullish daily closing is likely to ensure the pair rises above the same. The immediate gains appear capped at the 100-DMA located at 1.51.”
“Meanwhile, fresh offers could be seen in case the pair fails to rise above 1.5057. In such a case, the losses are likely to be capped around 1.4973 (5-DMA).”
“It remains to be seen if the pair manages to finish the New York session above 1.5 levels. If we have a daily close below 1.5, the bears are likely to regain control from tomorrow.”