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1 Jun 2015
GBP/USD still waiting for lows – BBH
FXStreet (Edinburgh) - The research team at BBH assessed the technical views of GBP/USD.
Key Quotes
“Sterling has shed six cents since May 14 and four cents since May 22”.
“The technical tone remains poor and the five-day moving average has broken below the 20-day average”.
“We had suggested scope toward $1.5200, and it made a low just below $1.5240 before the weekend”.
“The technical indicators are not suggesting a low is in place. A break of $1.5200 could spur another cent decline especially if it coincides with a firmer dollar environment and signs that the UK economy is continuing to slow”.
“Sterling has not risen above the previous day's high since May 21. When it does, it may signal a corrective phase. The pre-weekend high was a little above $1.5340”.
Key Quotes
“Sterling has shed six cents since May 14 and four cents since May 22”.
“The technical tone remains poor and the five-day moving average has broken below the 20-day average”.
“We had suggested scope toward $1.5200, and it made a low just below $1.5240 before the weekend”.
“The technical indicators are not suggesting a low is in place. A break of $1.5200 could spur another cent decline especially if it coincides with a firmer dollar environment and signs that the UK economy is continuing to slow”.
“Sterling has not risen above the previous day's high since May 21. When it does, it may signal a corrective phase. The pre-weekend high was a little above $1.5340”.