August 25, 2014 -- Sterling fell against the dollar since last week since the 200-day moving average 1.6682, a sharp decline enlarged trend. Asia City early hours today a wave decline to 1.6538. Obviously, from the technical daily chart is evident that the dollar is steadily running down channel, the next stop is likely to fall to the March lows near 1.6464. Although the Bank of England itself, there are interest rate expectations, but no firm degrees inside the Fed hawks so strong and interest rates during the year in a negligible probability is minimal. In September the British side will face England referendum matters, but also for the sterling bulls maintain a certain caution. Currently GBPUSD general trend is expected to pressure the state with non-US currencies, further run down mode. Any rally could be seen as opportunities to short rallies, concerns the steady case below 1.6500, short-term continuing bearish, above resistance 1.6660 and 1.6650. Source: FX678
Posted on: Mon, 25 Aug 2014 03:52:17 +0000
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