5 Mar 2015
GBP/USD falls below 50-DMA – Scotiabank
FXStreet (Barcelona) - With GBP/USD breaking below the 50-day MA, Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, comments that technicals are shifting to a more bearish tone.
Key Quotes
“GBP is down just 0.1% since yesterday’s close, but more importantly it has broken below its 50-day MA, suggesting building downward pressure.”
“Today the BoE left policy unchanged, with interest rates at 0.5% and the asset purchase program at £375bn. This as expected decision drove no currency reaction..”
“GBPUSD short-term technicals: mixed—but shifting towards more bearish undertones, likely reflecting the broader USD rally.”
“Support lies at 1.5197, the low from Feb 10; while resistance lies at the 50-day MA at 1.5273”
Key Quotes
“GBP is down just 0.1% since yesterday’s close, but more importantly it has broken below its 50-day MA, suggesting building downward pressure.”
“Today the BoE left policy unchanged, with interest rates at 0.5% and the asset purchase program at £375bn. This as expected decision drove no currency reaction..”
“GBPUSD short-term technicals: mixed—but shifting towards more bearish undertones, likely reflecting the broader USD rally.”
“Support lies at 1.5197, the low from Feb 10; while resistance lies at the 50-day MA at 1.5273”