17 Jun 2015
GBP/USD forecast: Overall outlook bullish but watch 1.5596 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, sees the overall outlook for GBP/USD as being bullish but a dip towards 1.5596 might be on the cards.
Key Quotes
“On the hourly charts, we see rising tops in spot price accompanied by falling tops in the RSI. The diverging movement could push the spot lower to 1.5596 (hourly 50-MA), under which fresh offers could send the pair lower to 1.5566 (38.2% Fib R of 1.7190-1.4564).”
“On the higher side, only a break above 1.5660 could open doors for 1.5698 (May. 21 high).”
“The overall outlook stays bullish owing to a daily close above 1.5566 for the second consecutive session on Tuesday.”
Key Quotes
“On the hourly charts, we see rising tops in spot price accompanied by falling tops in the RSI. The diverging movement could push the spot lower to 1.5596 (hourly 50-MA), under which fresh offers could send the pair lower to 1.5566 (38.2% Fib R of 1.7190-1.4564).”
“On the higher side, only a break above 1.5660 could open doors for 1.5698 (May. 21 high).”
“The overall outlook stays bullish owing to a daily close above 1.5566 for the second consecutive session on Tuesday.”