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6 May 2015
GBP/USD headed to 1.5040? - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the British Pound woke up from its lethargy following the release of disappointing US data, surging to a daily high of 1.5217 before retracing some.
Key Quotes:
"There were no fundamental releases in the UK, and all attention continues to be centered in the upcoming elections."
"According to the latest opinion polls, the Conservatives are two points ahead the Labour party, although the two bigger parties are still almost even, and investors continue to fear a resulting hung Parliament."
"Technically, the pair is losing its upward potential according to the 1 hour chart, as the technical indicators are turning lower, but still above their mid-lines, whilst the 20 SMA heads higher, offering dynamic support around 1.5120."
"In the 4 hours chart, the price is retracing from a bearish 20 SMA, as the pair posted a short lived spike above it, but failed to sustain its gains, whilst the Momentum indicator heads higher and is about to cross the 100 level to the upside, and the RSI indicator turned lower around 46."
"The upside will likely remain limited as the election date looms, with risk of a decline down to 1.5040 should the pair resume its slide."
Key Quotes:
"There were no fundamental releases in the UK, and all attention continues to be centered in the upcoming elections."
"According to the latest opinion polls, the Conservatives are two points ahead the Labour party, although the two bigger parties are still almost even, and investors continue to fear a resulting hung Parliament."
"Technically, the pair is losing its upward potential according to the 1 hour chart, as the technical indicators are turning lower, but still above their mid-lines, whilst the 20 SMA heads higher, offering dynamic support around 1.5120."
"In the 4 hours chart, the price is retracing from a bearish 20 SMA, as the pair posted a short lived spike above it, but failed to sustain its gains, whilst the Momentum indicator heads higher and is about to cross the 100 level to the upside, and the RSI indicator turned lower around 46."
"The upside will likely remain limited as the election date looms, with risk of a decline down to 1.5040 should the pair resume its slide."