Forex Flash: Bearish outlook for the GBP/USD – RBS

FXstreet.com (Barcelona) - According to Technical Markets Strategist William Moore at RBS, “The GBP/USD has become strictly bearish – we can’t seem to find any other ways of saying something looks like it wants to go down. The price action over the fundamental data release was the kicker the market needed to push it away from the cluster of moving averages and now the downside target is the 1.5756 level onto the 1.5600 level eventually. The ideal short-term fade levels are 1.5916/36 using a stop through the 10 day average trading around 1.5986 today.”

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