GBP/USD headed for 1.6788? - Scotiabank

By FXstreet.com | 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.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  4. GBP/USD Daily Outlook - September 19
    Investing

    GBP/USD Daily Outlook - September 19

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center