FXStreet chief analyst: GBP / USD Trend Analysis October 20

Updated: October 20, 2015  Views: 18

FX168 hearing Tuesday (October 20th Asian city in early trading, the pound / dollar hovered located near the 1.5470 level. Previous day GBP / USD closed up a modest rebound in Yang Xian, touched intraday high of 1.5496, after falling somewhat from that point.

Sterling rose against the dollar the previous day's 1.5500 resistance again, the euro fell against the pound to boost the euro, boosting the pound. Recent UK economic data is relatively light, the exchange rate may still bullish. USD in thin market conditions due to the steady rebound in the probability of it low, the Federal Reserve (Fed to postpone raising interest rates suppress the dollar's gains.

Technically, FXStreet Valeria Bednarik, chief analyst pointed out that the 1 hour chart show the GBP / USD is located above 1.5445 the 61.8% retracement of the recent losses, the day quickly rebounded after the dollar fell below the water level. Exchange rate at above 20 SMA, but Technical indicators lacking at the top of the central axis direction, reflecting a temporary lack of market trading volume, rather than the possibility of further decline.

4 hours chart point of view, Bednarik points out, the GBP / USD near the 20 EMA are sharply higher wandering momentum indicator was unchanged at close to 100, RSI slightly lower to around 57, but also a lack of clear signals guidelines.

Support levels: 1.5445 1.5415 1.5380

Resistance levels: 1.5495 1.5530 1.5565

(GBP / USD 60 minutes - Source: FXStreet

08:10 GMT, the pound / dollar reported 1.5468 / 72.


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