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4 May 2015
SEB: GBP/USD resuming the bear trend – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes, SEB views that GBP/USD might soon resume its downtrend and see additional losses.
Key Quotes
“After overshooting the ideal ending point for wave C, 1.5344, the pair soon made a 180 degree turn and begun falling and doing so in an impulsive manner.”
“The long weekly upper spike, the return back below the 2010 trend line and a bearish hourly wave pattern all suggests that the past weeks correction now might be over and done.”
“Unless returning above 1.5304 we should be expecting more losses within shortly (a close below the bearishly sloped 55d ma band will be the next signal to look for).”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“After overshooting the ideal ending point for wave C, 1.5344, the pair soon made a 180 degree turn and begun falling and doing so in an impulsive manner.”
“The long weekly upper spike, the return back below the 2010 trend line and a bearish hourly wave pattern all suggests that the past weeks correction now might be over and done.”
“Unless returning above 1.5304 we should be expecting more losses within shortly (a close below the bearishly sloped 55d ma band will be the next signal to look for).”
This content has been provided under specific arrangement with eFXnews.