GBP/USD: 1.4950 is key resistance – FXStreet

FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet noted that the British Pound is among the worse daily performers, having declined down to 1.4875 against the greenback during the American afternoon and trading a few pips above by the end of the day.

Key Quotes:

“The GBP/USD pair has started the day with a positive tone, holding above the 1.4900 level, although within quite a limited range amid the year-end holidays. The pair later declined with no actual catalyst beyond it, and the 4 hours chart shows that the bearish potential has increased as the price is pressuring a flat 20 SMA, while the technical indicators have crossed below their mid-lines, in line with additional declines.

The immediate support comes at the 1.4850/60 region, the level to take during the upcoming sessions to see a retest of the recent low at 1.4804. Despite not far away, seems unlikely the pair may advance beyond 1.4950, the main resistance level to consider during these days.”

Valeria Bednarik, chief analyst at FXStreet noted that the British Pound is among the worse daily performers, having declined down to 1.4875 against the greenback during the American afternoon and trading a few pips above by the end of the day.


(Market News Provided by FXstreet)