$GBPUSD Trading at year lows - FXStreet
Topic: $GBPUSD Trading at year lows - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet sees Pound’s negative tone firm and continuing while posting a daily low of 1.5730 so far.
“The technical picture shows RSI accelerating south in oversold territory, momentum retreating from 100 and price capped by a still bearish 02 SMA, currently around 1.5770, becoming the immediate resistance level."
"In the 4 hours chart momentum turned south after a limited upward correction below 100, and 20 SMA gains bearish slope above current price, supporting the dominant trend.”