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GBP/USD Forecast: bearish below 1.4960

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 3, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    The GBP/USD pair is bouncing from a daily low of 1.4903, helped by a better-than-expected UK services PMI reading, up to 55.9 in November from a previous 54.9. Growth in the services sector however, is not enough to revert the negative tone of the pair, that remains under selling pressure. Technically, the 4 hours chart shows that the price is well below a bearish 20 SMA and that the Momentum indicator maintains a bearish slope below its 100 level, whilst the RSI indicator remains

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