GBP/USD headed for 1.6788? - Scotiabank

By FXstreet.com | Updated August 01, 2014 AAA

FXStreet (Guatemala) - Eric Theoret, Currency Strategist at Scotiabank noted the bearishness around the pound.



Key Quotes:



"GBP/USD short-term technicals: Bearish—GBP has broken below its 100 day MA (1.6860) bearish momentum indicators are accelerating. The RSI is falling, at 26 and within oversold levels between 20 and 30."



"The ADX has just risen above 25, signs of a strengthened trend. We expect further weakness, with a decline to the June 12 open at 1.6788.



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