FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen gives his forecast on GBP/USD from a strictly technical perspective.
Nomura FX Strategist Amen believes that GBP/USD will remain technically bullish for the week ahead whilst ranging higher. He notes that RSI (14) has ticked back high, indicating that the upward momentum is strong. He notes that “short and medium-term SMA are sloping higher, which is indicative of strong upward momentum.” Bollinger bandwidth has fallen, suggesting that price is likely to be more range bound. He sets a target of 1.6350.
Nomura FX Strategist Amen believes that GBP/USD will remain technically bullish for the week ahead whilst ranging higher. He notes that RSI (14) has ticked back high, indicating that the upward momentum is strong. He notes that “short and medium-term SMA are sloping higher, which is indicative of strong upward momentum.” Bollinger bandwidth has fallen, suggesting that price is likely to be more range bound. He sets a target of 1.6350.
