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FXStreet (Córdoba) - The GBP/USD lost ground all through the American session and finished trading at the lows, around 1.6468/71, the lowest price since March 24. The pair had the worst day since January, losing more than 130 pips and posted the lowest daily close since mid-February.
The Scottish referendum weakened considerably the Pound, that fell despite better-than-expected economic data from the UK, where the Construction PMI rose from 62.4 to 64.0; analyst were expecting a minor decline.
GBP/USD technical outlook
“The short term picture shows indicators heading lower in extreme oversold levels, while 20 SMA maintains a strong bearish slope well above current price”, says Valeria Bednarik, Chief Analyst at FXStreet.
The 4-hour chart shows momentum remaining vertical notes Bednarik, “while RSI stands at 24.7 both holding to the strong bearish tone.”
