GBP/USD headed to April levels? – Scotiabank

By FXStreet FXStreet (Guatemala) – Shaun Osborne Chief FX Strategist at Scotiabank explained that cable looks heavy on the short-term charts and the market is fractions away from making a new low for this move down (back towards April levels).

Key Quotes:

“The steady procession of lower lows and lower highs is a classic symptom of a technical downtrend.

Below 1.4890 on a weekly close suggests an eventual return to 1.45/1.46 which is really the weaker side of the market.”
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Source:: FX Street