GBP/USD headed to April levels? - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    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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