GBP/USD extending decline - FXStreet

By FXstreet.com | August 08, 2014 AAA

FXStreet (Łódź) - As FXStreet Chief Analyst Valeria Bednarik notes, the pound continues dropping against the dollar on Friday, having fallen below the 1.6800 level first time in over 2 months.



Key quotes



"Technically, the GBP/USD hourly chart shows a clear bearish potential, with 20 SMA heading lower and acting as dynamic resistance, and indicators heading south below their midlines."



"In the 4 hours chart RSI accelerates south below 30, while the rest of the technical readings also support a bearish continuation."



"With some stops now below 1.3770 and a break below it should see a downward acceleration towards 1.6700/30 price zone."



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY Traders Await Clearer Guidance As A Doji Signals Hesitation
    Forex News

    USD/JPY Traders Await Clearer Guidance As A Doji Signals Hesitation

  2. USD/JPY is dancing around 107.00
    Forex News

    USD/JPY is dancing around 107.00

  3. USD/CAD Tests Critical Barrier As Intraday Dojis Denote Indecision
    Forex News

    USD/CAD Tests Critical Barrier As Intraday Dojis Denote Indecision

  4. NZD/USD Stalls At 0.8000 Barrier As A Doji Arises & Volume Fades
    Forex News

    NZD/USD Stalls At 0.8000 Barrier As A Doji Arises & Volume Fades

  5. EUR/USD sidelined above 1.2700
    Forex News

    EUR/USD sidelined above 1.2700

Trading Center