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3 Mar 2015
GBP/USD bullish bias rapidly fading – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that with technicals suggesting that GBP/USD is shifting to a neutral stance, a break below 1.5286 would confirm a bearish turn for the pair.
Key Quotes
“GBP is trading within its recent range and comfortably between the 50 and 100‐day moving averages (1.5286 to 1.5548, respectively).”
“Technically, the bullish bias for GBP is rapidly fading, shifting to a more neutral stance.”
“A break of the 50‐day moving average would confirm a more bearish turn.”
Key Quotes
“GBP is trading within its recent range and comfortably between the 50 and 100‐day moving averages (1.5286 to 1.5548, respectively).”
“Technically, the bullish bias for GBP is rapidly fading, shifting to a more neutral stance.”
“A break of the 50‐day moving average would confirm a more bearish turn.”