Back
23 Feb 2015
GBP/USD downward movement inside the channel likely to continue – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team gives the technical outlook and the key levels for GBP/USD.
Key Quotes
“… the GBP decreased steadily versus the USD since the mid of July 2014. The support line at 1.4998 was strong enough as the price was unable to break through and recovered.”
“Nevertheless, the downward movement inside the trend channel is likely to continue although it could break through it recently.”
“The CCI is showing that the pair is moving in an overbought market area towards the Center line as a signal for the sellers.”
“Support Levels around: 1.4998”
“Resistance Levels around: 1.5770, 1.6178”
Key Quotes
“… the GBP decreased steadily versus the USD since the mid of July 2014. The support line at 1.4998 was strong enough as the price was unable to break through and recovered.”
“Nevertheless, the downward movement inside the trend channel is likely to continue although it could break through it recently.”
“The CCI is showing that the pair is moving in an overbought market area towards the Center line as a signal for the sellers.”
“Support Levels around: 1.4998”
“Resistance Levels around: 1.5770, 1.6178”