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GBP/USD poised to extend downside - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at Scotiabank explained that even with the GBP picking up a little more support on the crosses, the weaker trend in GBP/USD will be hard to ignore.

    Key Quotes:

    "Cable looks poised to extend lower on the longer-term charts, with the gently declining trend in place since mid-2015 intact on the daily chart and trend momentum signals aligned bearishly across a range of time frames. Minor gains to the 1.47 area look a sell."
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