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.



You May Also Like

Related Forex Analysis
  1. Investing

    GBP/USD: 2015 Forex Forecast

  2. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  3. Forex News

    GBP/USD Range in Focus Ahead of U.K. & U.S. 3Q GDP Reports

  4. Forex News

    Sterling between bullish dollar and bearish euro - BBH

  5. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

Trading Center