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27 Mar 2015
GBP/USD losses might remain capped at 1.4800 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that GBP/USD losses might remain capped at 1.4800, but a break below this might see an intense sell-off.
Key Quotes
“On the hourly charts, we see the pair finally broke below the hourly 200-MA at 1.4850 in the previous session, and continues to trade below the same today.”
“Moreover, the hourly chart shows, the pair has breached triple top formation with the hourly 200-MA acting as a neckline. This opens door for a technical target of 1.47-1.4720.”
“However, the immediate losses could be capped around 1.48, under which the sell-off could be intense.”
“On the other hand, a weaker-than-expected US Q4 GDP could push the pair higher to 1.4890 (hourly 100-MA).”
Key Quotes
“On the hourly charts, we see the pair finally broke below the hourly 200-MA at 1.4850 in the previous session, and continues to trade below the same today.”
“Moreover, the hourly chart shows, the pair has breached triple top formation with the hourly 200-MA acting as a neckline. This opens door for a technical target of 1.47-1.4720.”
“However, the immediate losses could be capped around 1.48, under which the sell-off could be intense.”
“On the other hand, a weaker-than-expected US Q4 GDP could push the pair higher to 1.4890 (hourly 100-MA).”