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Forex Flash: GBP/USD looks technically bearish - Nomura

FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at GBP/USD and notes that the pair is technically bullish ahead.

Looking at a daily chart, he notes that spot is up on the week and he is bearish in his outlook. He notes that the bandwidth remains relatively low, suggesting spot is not quite in a breakout phase. Further, he adds that the RSI also appears to have topped out, suggesting a short-term top has been reached. He writes, “Our target for the move is 1.5350, which is roughly half way in terms of spot's jump following GDP.”

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