Forex Flash: GBP/USD exhibits bearish theme still – RBS (Barcelona) - According to William Moore, a Technical Markets Strategist at RBS, “A disappointing follow through by the GBP/USD from the bear flag pattern as highlighted yesterday and the failure of this pattern to reach its target caused a stop loss to be triggered at the 1.6010 level.”

Intraday, we have very little to add, despite the recent pullback; we still like the overall bearish theme on the metrics as outlined for the last month. Technically speaking, important topside levels lie at 1.6048 and 1.6070, whereas the main downside supports lie at 1.6010, 1.5970 and 1.5918.” writes Moore.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.