GBP/USD trading at new month low - FXStreet

By FXstreet.com | Updated July 29, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that after breaking below 1.6950, GBP/USD is now trading at a new month low.

Key quotes



“The hourly chart shows a strong bearish momentum, with RSI entering negative territory and price well below moving averages, all of which supports a continued slide.”



“In the 4 hours chart indicators stand below their midlines, but lack directional strength.”



“Nevertheless, the downside is favored towards 1.6900/20 area, as long as mentioned level caps the upside.”



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