FXstreet.com (San Francisco) - The GBP/USD pair has entered a period of consolidation in Asia after the overnight session saw the pair slip below support at the 1.5450 level and fall to a fresh monthly low of 1.5392 before closing down to 1.5425 vs. 1.5500.
“The hourly chart shows price well below a bearish 20 SMA, momentum aiming higher in negative territory, and RSI pointing back south, all of which suggest the upside will remain limited,” explains Valeria Bednarik, Chief Analyst at FXstreet.com. “In the 4 hours chart the pair is also biased lower as long as below 1.5460/70 area, immediate resistance in case of recoveries.”
The pairing sits practically unchanged at 1.5425 so far this Friday. According to Ms. Bednarik, significant levels of support lie at 1.5410, 1.5365 and 1.5320, while, to the upside, selling interest may be found at 1.5465, 1.5510 and 1.5550.
“The hourly chart shows price well below a bearish 20 SMA, momentum aiming higher in negative territory, and RSI pointing back south, all of which suggest the upside will remain limited,” explains Valeria Bednarik, Chief Analyst at FXstreet.com. “In the 4 hours chart the pair is also biased lower as long as below 1.5460/70 area, immediate resistance in case of recoveries.”
The pairing sits practically unchanged at 1.5425 so far this Friday. According to Ms. Bednarik, significant levels of support lie at 1.5410, 1.5365 and 1.5320, while, to the upside, selling interest may be found at 1.5465, 1.5510 and 1.5550.
