Forex Flash: Technically bearish on GBP/USD - Nomura

FXstreet.com (San Francisco) - Technically speaking, Nomura holds a bearish bias for GBPUSD this week. Nomura explains: "We retain our bearish view. First, spot failed to break the upper Bollinger band. Also the RSI has turned lower, indicating downward momentum. With bandwidth also rolling over, a retracement within the range lower looks likely (and suggests the upward breakout has been exhausted). Our target is 1.5980 (20D SMA)."

GBPUSD last exchanges at 1.6020.