2 Jul 2013
GBP/USD steady at lows
FXstreet.com (London) - GBP/USD has remained supported between 1.5140/50 after the release of inline factory orders.
GBPUSD keeps bearish
GBP/USD stayed put as Factory Orders (MoM) for May printed 2.1% vrs 2% consensus and 1.3% previous. Saeed Amen said that the RSI had continued to drift lower indicating downside momentum is likely to persist. With bandwidth coming off, we think any move lower will likely be within the range, as opposed to be a big breakout. His target for the move lower was 1.5125 (just below lower Bollinger band).
GBPUSD keeps bearish
GBP/USD stayed put as Factory Orders (MoM) for May printed 2.1% vrs 2% consensus and 1.3% previous. Saeed Amen said that the RSI had continued to drift lower indicating downside momentum is likely to persist. With bandwidth coming off, we think any move lower will likely be within the range, as opposed to be a big breakout. His target for the move lower was 1.5125 (just below lower Bollinger band).