GBP/USD comes with downside warnings - Scotiabank

By FXstreet.com | Updated August 05, 2014 AAA

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that technical signals are warning of further near‐term downside risk in GBP/USD.



Key Quotes



"GBP/USD short‐term technicals: bearish—technical signals warning of further near‐term downside risk and the RSI has not reached oversold levels. Accordingly for short-term traders, we favour short positions, looking for a test to 1.6786”.



“A close above the August 1st high of 1.6893 would shift the technical outlook to neutral and accordingly can be used as a stop."



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