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15 Jan 2015
GBP/USD might move towards 1.53 levels – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, believes that yesterday’s close above 1.5231 indicates that GBP/USD has further upside potential towards 1.53 levels.
Key Quotes
“The GBP/USD pair finished higher at 1.5231, after breaching the higher end of the three-day range of 1.51-1.52. Consequently, doors have been opened for the technical target of 1.53. However, the pair has weakened today to trade at 1.5224 with the daily RSI bearish at 37.49 levels.”
“Moreover, the hourly chart shows, the pair struggled near 1.5250 levels, post which it inched lower, threatening to push the hourly RSI below 50.00 levels.”
“A fresh demand for Pounds can be anticipated around 1.52 levels if the pair manages to sustain above the same during the European session today. In such a case, the pair is likely to test 1.53 levels, which also happens to be the rising channel resistance seen on the hourly charts.”
Key Quotes
“The GBP/USD pair finished higher at 1.5231, after breaching the higher end of the three-day range of 1.51-1.52. Consequently, doors have been opened for the technical target of 1.53. However, the pair has weakened today to trade at 1.5224 with the daily RSI bearish at 37.49 levels.”
“Moreover, the hourly chart shows, the pair struggled near 1.5250 levels, post which it inched lower, threatening to push the hourly RSI below 50.00 levels.”
“A fresh demand for Pounds can be anticipated around 1.52 levels if the pair manages to sustain above the same during the European session today. In such a case, the pair is likely to test 1.53 levels, which also happens to be the rising channel resistance seen on the hourly charts.”