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20 Apr 2015
GBP/USD approaching key 1.4900 support – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the technical outlook for GBP/USD, noting that the pair is seen approaching the key 1.4900 support, a break below which might target 1.4840/50.
Key Quotes
“The GBP/USD 4 hours chart showing that the price approaches its 200 EMA acting as the immediate short term support around 1.4910, whilst the 20 SMA heads strongly up around 1.4900. The technical indicators in the mentioned time frame continue retracing from overbought territory, and head south towards their mid-lines in positive territory.”
“A break below the 1.4900 figure is required to confirm additional intraday declines towards the 1.4840/50 region, while if the 1.4900 area holds, the price will likely return to the 1.4950/60 price zone.”
Key Quotes
“The GBP/USD 4 hours chart showing that the price approaches its 200 EMA acting as the immediate short term support around 1.4910, whilst the 20 SMA heads strongly up around 1.4900. The technical indicators in the mentioned time frame continue retracing from overbought territory, and head south towards their mid-lines in positive territory.”
“A break below the 1.4900 figure is required to confirm additional intraday declines towards the 1.4840/50 region, while if the 1.4900 area holds, the price will likely return to the 1.4950/60 price zone.”