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.”



Related Forex Analysis
  1. GBP/USD slumps to 1.5950
    Forex News

    GBP/USD slumps to 1.5950

  2. GBP/USD retreats from above 1.6000
    Forex News

    GBP/USD retreats from above 1.6000

  3. GBP/USD trading slightly below 1.6000 - FXStreet
    Forex News

    GBP/USD trading slightly below 1.6000 - FXStreet

  4. GBP/USD expected to move towards 1.5875 - UOB Group
    Forex News

    GBP/USD expected to move towards 1.5875 - UOB Group

  5. GBP/USD capped at 1.6000
    Forex News

    GBP/USD capped at 1.6000

Trading Center