Flash: GBP technical look bearish - Nomura

FXstreet.com (London) - Saeed Amen, strategist at Nomura, said the technicals are bearish for next week and ranging. He keeps his bearish view.

“RSI has continued to drift lower indicating downside momentum is likely to persist.” He explains, with bandwidth coming off, he thinks any move lower will likely be within the range, as opposed to be a big breakout. His target for the move lower is 1.5125 (just below lower Bollinger band).