The GBP/USD pair hovers around the 1.5200 level, maintaining its latest gains and having found buyers on a retracement down to 1.5153 during Asian hours. There has been no relevant data in the UK, and the stocks’ negative tone seems unable to affect the Pound so far today.
The 4 hours chart shows that the technical picture continues to favor the upside, as indicators head back higher after correcting overbought readings, whilst 20 SMA gains bullish slope well below the current price. The 200 EMA stands at 1.5310, and the pair has been trading below it, and even retracing from it on approaches since July 2014, meaning is a quite significant resistance in case of a continued advance, and will probably attract selling interest if reached. Above 1.5224 Tuesday high, the pair will likely advance up to 1.5260 price zone, whilst once above this last, the mentioned 200 EMA is next.
A break below 1.5150 on the other hand will favor a downward continuation towards the 1.5100/10 price zone.
View Live Chart for GBP/USD
The 4 hours chart shows that the technical picture continues to favor the upside, as indicators head back higher after correcting overbought readings, whilst 20 SMA gains bullish slope well below the current price. The 200 EMA stands at 1.5310, and the pair has been trading below it, and even retracing from it on approaches since July 2014, meaning is a quite significant resistance in case of a continued advance, and will probably attract selling interest if reached. Above 1.5224 Tuesday high, the pair will likely advance up to 1.5260 price zone, whilst once above this last, the mentioned 200 EMA is next.
A break below 1.5150 on the other hand will favor a downward continuation towards the 1.5100/10 price zone.
View Live Chart for GBP/USD
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