GBP/USD Rebound from Hourly 200-MA

GBP/USD Rebound from Hourly 200-MA

18 April 2016, 16:34
Roberto Jacobs
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GBP/USD Rebound from Hourly 200-MA

Cable is looming to extend gains above 1.42 levels after having rebounded from the hourly 200-MA level located at 1.4166 levels.

Trades above hourly 100-MA

The recovery from hourly 200-MA level also saw the pair move above hourly 100-MA level of 1.4191 levels, although extending gains above 1.42 appears easier said than done, given the multiple hourly candles failing to rise over and above 1.42.

Ahead in the day, the focus would be on broader market sentiment and Fed’s Rosengren’s comments. Brexit fears appear to have taken a backseat, although fresh sell-off in oil and risk aversion in the US equities could play a spoil sport.

GBP/USD Technical Levels

Acceptance above 1.42 on hourly charts would open doors for a rise to 1.4252 (50% of 1.4669-1.3835). On the other hand, a break below 1.4191 (hourly 100-MA) would expose 1.4166 (hourly 200-MA).


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