Forex Flash: Technically, GBP/USD is bearish – Nomura
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GBP/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at GBPUSD from a purely technical perspective.
Looking at a daily chart, Amen notes that spot is down on the week and he has flipped to a bearish view. Spot has broken down through the lower Bollinger band, and is close to the important 200 SMA. RSI (14) is also in a down trend, indicating that momentum is on the downside. Bollinger bandwidth has ticked up, indicating that we are in the midst of a breakout. He states his weekly target is 1.5800.
Looking at a daily chart, Amen notes that spot is down on the week and he has flipped to a bearish view. Spot has broken down through the lower Bollinger band, and is close to the important 200 SMA. RSI (14) is also in a down trend, indicating that momentum is on the downside. Bollinger bandwidth has ticked up, indicating that we are in the midst of a breakout. He states his weekly target is 1.5800.
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