GBP/USD trading at new month low - FXStreet

By FXstreet.com | 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.”



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