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25 Apr 2016
GBP/USD: Upside gap, focus shifted towards 1.45
GBP/USD has opened with a significant 60+ pips upside gap in iliquid Asian hours, with its highest reached a 1.4470, as the pair approaches sticky resistance at 1.45 amid an improved outlook for the 'remain' campaign in Brexit polls.
Views from Valeria Bednarik, Chief Analyst at FXStreet
"During this week, focus will be on Chancellor of Exchequer Osborne who is being questioned by the Treasury Committee on the costs and benefits of the UK's EU membership, who will likely paint a gloomy future, should the kingdom leave the union."
"The daily chart shows that the price is well above a horizontal 20 SMA, whilst the technical indicators head sharply higher, supporting some additional gains for this Monday, particularly on an upward acceleration above 1.4460."
"In the shorter term, the 4 hours chart the pair has found some buying interest around a horizontal 20 SMA, currently at 1.4363, while the Momentum indicator remains neutral and the RSI aims slightly higher around 64, all of which supports the upside, but indicates an absence of bullish strength at current levels."
Views from Valeria Bednarik, Chief Analyst at FXStreet
"During this week, focus will be on Chancellor of Exchequer Osborne who is being questioned by the Treasury Committee on the costs and benefits of the UK's EU membership, who will likely paint a gloomy future, should the kingdom leave the union."
"The daily chart shows that the price is well above a horizontal 20 SMA, whilst the technical indicators head sharply higher, supporting some additional gains for this Monday, particularly on an upward acceleration above 1.4460."
"In the shorter term, the 4 hours chart the pair has found some buying interest around a horizontal 20 SMA, currently at 1.4363, while the Momentum indicator remains neutral and the RSI aims slightly higher around 64, all of which supports the upside, but indicates an absence of bullish strength at current levels."