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7 Jan 2015
GBP/USD likely to test 1.52 levels today – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, GBP/USD technicals support a recovery for the pair, further anticipating it to test 1.5174 and 1.52 levels.
Key Quotes
“The pair extended losses on Tuesday, ending at 1.5152 levels, thereby pushing the daily RSI well into the oversold zone. The weakness has been extended today, although the pair has recovered from the low of 1.5110 to trade at 1.5140 levels.”
“The pair may continue to recover losses as the hourly chart shows a bullish price-RSI divergence.“
“Meanwhile, the oversold daily RSI at 25.99 levels, further supports a recovery. Thus, the pair is likely to test 1.5174 and 1.52 levels today.”
“Meanwhile, the selling pressure may intensify further if the pair dips below 1.5110, which shall result in the failure of a the bullish RSI divergence seen on the hourly charts. In such a case, the pair may dip to 1.5033 levels.”
Key Quotes
“The pair extended losses on Tuesday, ending at 1.5152 levels, thereby pushing the daily RSI well into the oversold zone. The weakness has been extended today, although the pair has recovered from the low of 1.5110 to trade at 1.5140 levels.”
“The pair may continue to recover losses as the hourly chart shows a bullish price-RSI divergence.“
“Meanwhile, the oversold daily RSI at 25.99 levels, further supports a recovery. Thus, the pair is likely to test 1.5174 and 1.52 levels today.”
“Meanwhile, the selling pressure may intensify further if the pair dips below 1.5110, which shall result in the failure of a the bullish RSI divergence seen on the hourly charts. In such a case, the pair may dip to 1.5033 levels.”