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15 May 2015
GBP/USD break below 1.57 to find buyers – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, GBB/USD correction seems likely today, but any dip below 1.57 will attract buyers.
Key Quotes
“Pound’s rally on Thursday failed to ensure the pair scored a daily close above 1.5796 (76.4% Fib expansion of 1.4564-1.5490-1.5088). The RSI indicator on the 4-hour time frame is indicating a correction is on the cards, as it turns lower from the overbought zone.”
“On the downside, a break below 5-DMA at 1.57 is likely to see fresh bids today. Only a daily close below 1.5550 could indicate a near-term top is made.”
“On the upside, a move above 1.58 could open doors for 1.5877 (50% of 1.7190-1.4564).”
Key Quotes
“Pound’s rally on Thursday failed to ensure the pair scored a daily close above 1.5796 (76.4% Fib expansion of 1.4564-1.5490-1.5088). The RSI indicator on the 4-hour time frame is indicating a correction is on the cards, as it turns lower from the overbought zone.”
“On the downside, a break below 5-DMA at 1.57 is likely to see fresh bids today. Only a daily close below 1.5550 could indicate a near-term top is made.”
“On the upside, a move above 1.58 could open doors for 1.5877 (50% of 1.7190-1.4564).”