According to FXStreet Editor and Analyst, Omkar Godbole, GBP/USD might remain stuck in the 1.5260-1.5340 range till the North American session opens.
Key Quotes
“The GBP/USD pair extended gains to 1.5340 levels in the previous session after having breached the resistance zone at 1.52-1.5220 levels.”
“However, the pair has been struggling to extend gains beyond 1.5340 levels since the North Amercian session yesterday.”
“The hourly RSI, at 66.87, has turned lower from the overbought zone. Hence, we are likely to see the pair test the rising trend line support at 1.5285 levels.”
“A further dip to 1.5260 (23.6% retracement) could be seen.”
“However, a fresh demand for Pounds can be anticipated around 1.5260 levels as the daily RSI has turned bullish above 50.00 levels.”
“Overall, the pair is likely to remain stuck in the range of 1.5260-1.5340 levels till the North American session.”
“A further upside towards 1.54 levels is more likely later during the NA session since the pair has given a convincing breakout from a month long range of 1.50-1.52 levels.”
Key Quotes
“The GBP/USD pair extended gains to 1.5340 levels in the previous session after having breached the resistance zone at 1.52-1.5220 levels.”
“However, the pair has been struggling to extend gains beyond 1.5340 levels since the North Amercian session yesterday.”
“The hourly RSI, at 66.87, has turned lower from the overbought zone. Hence, we are likely to see the pair test the rising trend line support at 1.5285 levels.”
“A further dip to 1.5260 (23.6% retracement) could be seen.”
“However, a fresh demand for Pounds can be anticipated around 1.5260 levels as the daily RSI has turned bullish above 50.00 levels.”
“Overall, the pair is likely to remain stuck in the range of 1.5260-1.5340 levels till the North American session.”
“A further upside towards 1.54 levels is more likely later during the NA session since the pair has given a convincing breakout from a month long range of 1.50-1.52 levels.”
