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GBP/USD technicals remain bearish ahead of BoE 'Super Thursday' - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - GBP/USD short-term technicals remain bearish and GBP risk is elevated over the next hours ahead of BoE ‘Super Thursday’ that includes the policy decision, statement release, minutes, and Quarterly Inflation Report, according to Eric Theoret, FX Strategist at Commerzbank.

    Key Quotes

    “GBP has been in a well-defined downtrend since June with a sequence of lower highs and lower lows. We are biased to weakness, and note that medium-term signals are increasingly bearish with the crossing of the 50 day MA below the 200 day MA”.

    “Resistance is strong above 1.5480, and we anticipate a decline toward 1.5250”.
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