7 Apr 2015
GBP/USD upside bias towards 1.4980/90 – CharmerCharts
FXStreet (Barcelona) - Carol Harmer of CharmerCharts, maintains an upside bias on GBP/USD, expecting a move towards 1.4980/90 as long as the pair remains above 1.4830.
Key Quotes
“Short term we are looking a little oversold, so we could see sideways action this morning to ease these oversold conditions.”
“Our 4hrly charts however do look like further weakness should be evident, but as long as we hold above 1.4830 on any short term pullback we should be able to trade higher once more.”
“We would be looking for the 1.4980/90 resistance, and this is where we cover any long positions..Only go back into longs on a break of 1.5015.”
“Now as stated, we need to hold above 1.4830 to look stronger....failure to do so will result in weakness following through to the 1.4780 to 1.4740 support band.”
“Only re-sell below 1.4715 for 1.4685.”
Key Quotes
“Short term we are looking a little oversold, so we could see sideways action this morning to ease these oversold conditions.”
“Our 4hrly charts however do look like further weakness should be evident, but as long as we hold above 1.4830 on any short term pullback we should be able to trade higher once more.”
“We would be looking for the 1.4980/90 resistance, and this is where we cover any long positions..Only go back into longs on a break of 1.5015.”
“Now as stated, we need to hold above 1.4830 to look stronger....failure to do so will result in weakness following through to the 1.4780 to 1.4740 support band.”
“Only re-sell below 1.4715 for 1.4685.”