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GBP/USD maintins a bearish bias – FXStreet


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FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet noted that Cable closed last week with some limited gains a few pips above the 1.5000 level, having resumed the downside after a couple of failed attempts to recover the 1.5200 mark.

Key Quotes:


“Nevertheless, the critical 1.5000 figure has held the downside, last week which limits for now the risk of a stronger decline.”


“On Monday, the UK will release its PMI figures, expected to show some signs of improvement which should result in a stronger Pound. Short term, the 1 hour chart shows that the price is hovering around a mild bearish 20 SMA, whilst indicators stand flat below their midlines.”


“In the 4 hours chart the price develops below its 20 SMA that gains some bearish slope in the 1.5110 price zone, while indicators head slightly lower below their midlines, favoring the downside particularly on a break below the 1.5000 figure.”