2 Feb 2015
Credit Suisse: GBP/USD immediate risk remains lower towards 1.4915 – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares Credit Suisse’s technical outlook for GBP/USD, with CS remaining short on the pair, targeting 1.4915 levels.
Key Quotes
“GBPUSD has declined after finding a cap near key price resistance at 1.5268/70. Support shows first at 1.5018, with a break below the cycle low at 1.4951 needed to resume the core downtrend. This should then see a challenge of 1.4913 initially, ahead of tougher support from the 2013 lows just below at 1.4832/13, where we would expect a basing effort.”
“Near-term resistance moves to 1.5164, followed by 1.5221/24. A break above 1.5268/70 is needed to suggest a deeper recovery for 1.5318/22, ahead of 1.5400/03.”
“CS is short GBP/USD with a stop at 1.5276, and a target at 1.4915”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“GBPUSD has declined after finding a cap near key price resistance at 1.5268/70. Support shows first at 1.5018, with a break below the cycle low at 1.4951 needed to resume the core downtrend. This should then see a challenge of 1.4913 initially, ahead of tougher support from the 2013 lows just below at 1.4832/13, where we would expect a basing effort.”
“Near-term resistance moves to 1.5164, followed by 1.5221/24. A break above 1.5268/70 is needed to suggest a deeper recovery for 1.5318/22, ahead of 1.5400/03.”
“CS is short GBP/USD with a stop at 1.5276, and a target at 1.4915”
This content has been provided under specific arrangement with eFXnews.