Forex Flash: GBP/USD searches for positives – RBS

FXstreet.com (Barcelona) - "On the short-term charts there is still nothing really positive to say about GBP vs. the USD; the market still looks heavy and each time the market manages to slightly rally it simply forms a continuation pattern and then continues to sell off." writes Technical Markets Strategist William Moore at RBS.

According to Moore, "That looks to be happening now in the 30 min chart; The bear flag pattern points to moves to 1.5916 which was the low on the 23 of October. Stop losses intraday can be above the 1.6010 area which is above the interim low the market posted on the 2 of November."