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13 Oct 2015
GBP/USD: 200 DMA under pressure on rebounds - Scotiabank
FXStreet (Guatemala) - Shaun Osborne Chief FX Strategist at Scotiabank explained the conditions surrounding GBP/USD.
Key Quotes:
"After spending the past three days chopping narrowly around the 200-day MA (1.5322), weakness today suggests recent gains have little staying power and the 200-day benchmark continues to cap rebounds.
The broader trend since August is lower, characterized by lower lows and lower highs and the overall trend is clearly tilted lower. Look to fade GBP rallies to the low/mid 1.53s."
Key Quotes:
"After spending the past three days chopping narrowly around the 200-day MA (1.5322), weakness today suggests recent gains have little staying power and the 200-day benchmark continues to cap rebounds.
The broader trend since August is lower, characterized by lower lows and lower highs and the overall trend is clearly tilted lower. Look to fade GBP rallies to the low/mid 1.53s."