GBP/USD Failing to Turn Up; Pressured Under 1.6900

By DailyFx | August 07, 2014 AAA

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GBP/USD Failing to Turn Up; Pressured Under 1.6900

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-GBPUSD sold off sharply after registering a weekly RSI reading above 70. Weekly RSI is now at its lowest reading since last August! Price wise, the February high acted as support at the recent low but the rate needs to gain traction over 1.6890 in order to look higher again.

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