GBP/USD outlook remains bearish – Scotiabank

By FXStreet FXStreet (Edinburgh) – Eric Theoret, Currency Strategist at Scotiabank, argued the near term perspective for the pair remains bearish.

Key Quotes

“Momentum indicators appear to be showing signs of deceleration, hinting to risk of near term stabilization”.

“We note that the momentum indicators have also failed to confirm recent fresh lows in GBP, with the RSI (35) remaining well above the early September low near 26”.

“Near term gains would likely find resistance above 1.5248, a level close to the 50% retracement of the April-June rally in GBP. We maintain a medium-term bias to
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Source:: FX Street