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."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD off highs, near 1.5620

  2. Forex News

    Euro Faces Weekend Gap Risk with Greek Referendum Sunday

  3. Forex News

    GBP/USD stuck at Fib resistance

  4. Forex News

    GBP/USD keeps highs on PMI

  5. Forex News

    British Pound May Fall as PMI Data Undercuts BOE Rate Hike Bets

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!