27/03/2015 GBPUSD eyes on 1.49682 level


TECHNICAL DAILY OUTLOOK – EYES ON 1.49682 AND 1.50455. BANK OF ENGLAND GOVERNOR CARNEY SPEECH (8:45 GMT) AND U.S. GROSS DOMESTIC PRODUCT (12:30 GMT) CAN IMPACT.

When it comes to Fridays, we have to take a look also at weekly charts, in order to get what pattern is going to be completed this week.

As we can see, weekly price is fighting around 61.8 fibo-retracement set on a weekly timeframe.

What I think is that this weekly bar will try to close near to the open price (1.49682) or over (1.50455 area). A breakout of 1.50455, due to speculations on BoE Governor’s speech or due to disappointing U.S. numbers, may drive prices over 1.51405.

GBPUSD 27th of March – W1 GBPUSD 27th of March – W1

GBPUSD 27th of March – D1 GBPUSD 27th of March – D1

Of course, if the speech will be somehow disappointing or the U.S. numbers will be better than expectations, we will quotes down around 1.4740 level which is anyways an important support and a good level for buyers: it is past Friday’s open and past Thursday’s close, and in that case both 14-periods traditional RSI and our STRC® (modified RSI) will fall into oversold areas.

GBPUSD 27th of March – M30 GBPUSD 27th of March – M30

Author: Simone Ambrogio

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