Forex: GBP/USD approaches overnight low
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - With the US markets closed today for Martin Luther King day, and a European session with a light calendar, volume has been especially thin today.
GBPUSD posted a morning high at 1.5893 before declining steadily to post a low at 1.5840, just above its opening low at 1.5836. Hourly moving averages are indicating downside momentum, especially with the 5 crossing the 20 to the downside. Hourly RSI is at 34 and hinting at some further downside extension. Today's range has been quite tight due to the lack of volume and the upcoming BoJ meeting which is expected to dictate momentum, at least in the near term.
GBPUSD posted a morning high at 1.5893 before declining steadily to post a low at 1.5840, just above its opening low at 1.5836. Hourly moving averages are indicating downside momentum, especially with the 5 crossing the 20 to the downside. Hourly RSI is at 34 and hinting at some further downside extension. Today's range has been quite tight due to the lack of volume and the upcoming BoJ meeting which is expected to dictate momentum, at least in the near term.
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