Forex Flash: Technically speaking, GBP/USD is bullish – Nomura
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GBP/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen gives hive outlook of the GBPUSD from a purely technical perspective.
Amen is bullish on Cable for the week ahead and has set a target of 1.5990. He notes that despite spot being lower on the week he has maintained his bullish view because of the failure to break lower after the move through the 200 MA. He also notes that RSI (14) has ticked backwards which could be indicative of a short term low. He sees that Bollinger Bandwidth is slowing, indicating that spot is likely to range from here.
Amen is bullish on Cable for the week ahead and has set a target of 1.5990. He notes that despite spot being lower on the week he has maintained his bullish view because of the failure to break lower after the move through the 200 MA. He also notes that RSI (14) has ticked backwards which could be indicative of a short term low. He sees that Bollinger Bandwidth is slowing, indicating that spot is likely to range from here.
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