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Aug 15, 2014
GBP/USD keeps risk to the downside - FXStreet
FXStreet (Bali) - GBP/USD keeps the risk to the downside, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The hourly chart shows indicators erased all of their oversold condition to settle around their midlines, while price is trapped around its 20 SMA, lacking a clear direction at the time being."
"In the 4 hours chart indicators turned back south after a limited upward correction still in oversold levels, which keeps the risk to the downside."
"A break below 1.6650 should signal a quick slide towards 1.6620 area, while a weekly close below 1.66 should see the pair extending its decline towards 1.6400/50 price zone."
Key Quotes
"The hourly chart shows indicators erased all of their oversold condition to settle around their midlines, while price is trapped around its 20 SMA, lacking a clear direction at the time being."
"In the 4 hours chart indicators turned back south after a limited upward correction still in oversold levels, which keeps the risk to the downside."
"A break below 1.6650 should signal a quick slide towards 1.6620 area, while a weekly close below 1.66 should see the pair extending its decline towards 1.6400/50 price zone."