Technical Analysis – GBPUSD technicals suggest resumption of downtrend
Posted on February 17, 2016 at 7:52 am GMTGBPUSD is giving a bearish tone. The RSI is in bearish territory below 50 and trending down, which is suggesting there is further downside momentum. The alignment of the 200, 100 and 50-day moving averages and the fact they are all sloping downwards, are bearish signals. After prices attempted to bounce higher from multi-year lows of 1.4078, strong resistance was found at the 50-day moving average and prices reversed back down from 1.4667. A drop below the key psychological level [..]