Back
25 Aug 2014
GBP/USD prints new 5-month low
FXStreet (Bali) - Further strengthening of the USD in interbank trading activity has allowed the GBP/USD to set a new 5-month low at 1.6535, as specs long GBP continue to run for the exits.
As Valeria Bednarik, Chief Analyst at FXStreet, notes: "The hourly chart shows price almost filled the gap before resuming the downside, with 20 SMA capping the upside around 1.6580 and indicators maintaining a strong bearish slope."
"In the 4 hours chart technical readings present a strong bearish tone as seen on previous updates, favoring now a steady decline towards 1.6465, March this year monthly low", Valeria adds.
As Valeria Bednarik, Chief Analyst at FXStreet, notes: "The hourly chart shows price almost filled the gap before resuming the downside, with 20 SMA capping the upside around 1.6580 and indicators maintaining a strong bearish slope."
"In the 4 hours chart technical readings present a strong bearish tone as seen on previous updates, favoring now a steady decline towards 1.6465, March this year monthly low", Valeria adds.