Forex Flash: GBP/USD technicals hint at upside – Nomura

Nomura Strategist Saeed Amen has taken a look at GBP/USD from a purely technical perspective.

Looking at a daily chart, Amen notes that spot is up on the week and he is keeping a bullish view. He notes that RSI has risen, suggesting that momentum is on the up, and with bandwidth falling, range bound price action is most likely and there could be more range bound trading ahead. He writes, “Our target however, is very close at 1.5900 (200D SMA and also the top of the recent range).”