FXStreet (Barcelona) – FXStreet Editor and Analyst, Omkar Godbole, expects a GBP/USD break above 1.5519 to pave way for 1.5567 levels.
Key Quotes
“On the charts, the pair is currently stuck between 1.5491 (50% Fib R of 1.5813-1.5169) and 1.5519 (23.6% Fib R of 1.4564-1.5813). The pair clocked an intraday high above 1.5519 in the previous two sessions, but failed to score a daily closing above the same. However, the pair has smartly jumped from 1.5491 levels today, after witnessing a daily closing above the same on previous two sessions.“
“Furthermore, with more room for selling in EUR/GBP, we are likely to see the pair take out 1.5519 and rise to 1.5567 (61.8% Fib R of 1.5813-1.5169).”
“On the downside, a break below 1.5491 could push the pair lower to 1.5450 (5-DMA).”
(Market News Provided by FXstreet)